This market is taking no prisoners. Sold out of my longs for now as I’m thinking twice about trying to play both sides of the fence. When I saw the markets getting oversold on Friday maybe a better strategy would have been to exit all shorts and sit on the sidelines instead of trying to time it with a couple of longs. It’s almost impossible to try and time each countertrend rally. The primary trend remains firmly down and all trades should be aimed in that direction. Today’s action is a reminder of how fast the markets can crush any hope.

On a side note I made the cover of SeekingAlpha today which is a first for me. They use some of my articles and it’s always entertaining to see the conversations that are stirred up over there. They have some very passionate gold investors on that site, and I’ll leave it at that.

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