I have been in 95% cash for the last 3 weeks and holding gold as a hedge. If the DOW tonight tanks, I myself believe we will not have time for a QE3 bail-out to make it to the market.
From the start, this has been a failure and the buck needs to stop here. This time, this moment to get the house back in order.
When this does turn, I will only be throwing 25% of my net worth back into the market over a staged approach.
Lets see how this pans out. It is time for cool heads and certainly not a trigger finger wanting to fire off powder on a bet.
Prefer to be seeing the market really start to turn as picking a bottom this time round is just playing with fire or only those with a heavy sense of many years of trading experience on a minute by minute basis.
Good Luck Guys/Girls...
I really do hope I am wrong and the ships starts to right itself. Saw too much pain from others on the last downturn...
