Alright, so the ADP report spooked me a little this morning. I covered half of my margin position, which is now at just under half of my net worth. Roughly half of this half is a combination of RMCF and the silver I purchased. I only bought CAT for a trade and will drop it in a heartbeat if I think this move down is going to persist. It will be an interesting morning, for sure.
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I covered the rest of the CAT position for a loss of a few percent. I really despise moving around this much, but after the employment and factory surprises, I’m beginning to feel that it isn’t the right time to be hanging out in margin land. I’ll hold onto the RMCF and silver positions though, since silver will benefit from panic and RMCF is farely non-reactive.
GLD breaking out.
Unless you’re a pusher, trying to peddle his wares in ‘the back’, the word you’re looking for is ‘backpedaling’. As in pedals on a bike.
Sire.
Woops, good call.