Sold Out of Gold — In the Tall Grass Again

I sold SAND, SBGL, HMY and SOLO — upping my cash position to 75%.

I don’t like the action in gold, especially right here at a level that can mark the beginning of a leg lower. I also don’t like stocks here, long or short. I’d much prefer to wait in the tall grass for a better entry point.

Sorry, but not every day is a day to crush markets. Sometimes doing less is more.