At least where oil is concerned, as ERX now spirals back below $70 a share.
Sadly, the rest of my positions are getting hammered. If I didn’t have the hedge, the losses would be far more horrific.
Times like this require trust. Do I trust myself and my analysis of my investments? Have I done a sufficiently good job that the pieces I’m holding can weather the storm? My entire plan has been centered around selecting gold amongst garbage and trusting that the garbage man can tell the difference.
If I’ve fucked up, it will hurt extremely badly.
As my entire strategy at this moment revolves around keeping a small amount of cash reinforced with a cracked out hedge against what will hopefully be resilient positions, losses do not deter me now. The deeper we dive, the more profitable it will be when I reverse off the bottom and margin myself long hard.
The game is afoot, friends. And the 9th floor is open for war.
Update:
Take a look at the oil futures.
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