Sorry for the late post, but I’ve been busy selling all morning on this strength. Let me make it clear, when I say selling, I mean everything.
Right now I am 100% in cash, every account (including the IRA)
Stop and think for a second before you go out and buy because the Vix is near 40. This ain’t Bear Sterns, this is our country falling apart at the seam.
Now it’s possible I could have sold at the bottom, but guess what? I don’t care.
Personally, I feel lucky. How many chances do you get to sell before the market comes crashing down?
Do whatever you want, and understand I am not giving advice. I’m just letting you know where I stand.
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when you say cash, do you mean american dollars? not even a 20% gold or foreign currency or a UDN dollar down?
Note: I still have a few puts on Bill Miller for good measure, but that’s it.
How about puts on GS? Look at them drop!
Been in and out of GS the past few days, I’m leaving it alone here.
This is how it works. One gets so scared they can’t buy. They find it impossible short at these levels. Only thing they can do is liquidate.
It healthy to clear the decks when needed … it can clear your head to see more clearly
From the movie “The Freshman” – There’s a kind of freedom in being completely screwed… because you know things can’t get any worse.
LM puts looking good today.
RC, Great advice. It’s the one thing that I’ve been unable to learn how to do. The last time I remember being _completely_ in cash was after the crash of 1987 (mid week when the phones were working so I could get through to Schwab) through the beginning of December, when I started getting back in.
Another thing that I haven’t heard anyone talk about is the insanity that occurs when historic moves take place. Even with all of the modern technology, you may not be able to get out if you are on the wrong side of the market..
Cubs,
You see VMW down here?
lol @ bill miller
Mostly gold and cash here.
The nice thing about cash is that you can always get back into the market with it when you feel comfortable.
Yeah Ragin, I’m in if it retests ~ $23.50 You can see people started buying in, thinking that might have been bottom. Waiting for the market to capitulate first.
same here Cubs.
In your words, “Let’s crash this bitch!”
in reference to the post of my title.
That was your last chance.
I am setting a $100,000 bounty on the head of every single anti-American short selling pig, so let’s hear some names.
(Payment to be made in Russian rubles.)