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Thursday, May 26, 2011

Reducing Risk

I already stated quite clearly that I am keeping the vast majority of money out of the stock market. However, on advice of Gary of Smart money tracker (paid service), I had put some into Gold (GLD). Gary has been waffling recently, I think part of his problem may be the insane amount of emails he likely gets from traders burned, nervous, or upset.
I am an old subscriber, so I have been there, done that, and I am past that. Gary is an analyst, not a prophet, and as such, he provides his view, and should not, cannot be held accountable for when he is wrong.

Plus the markets have changed from "go go" to what the heck is going on?
In any event, Gary changed again to sell, and he may be wrong, but I already had nervousness about any longs. Since I pay for Gary, and he has been more right than wrong, I'll join him.

As always however, I am keeping my core 2008 positions in gold an gold miners. Rest, off the table or entering more shorts. I am putting more onto DXD (double short DJIA).

Good luck.

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