Yikes! I didn't see today's drop coming. The employment report and tension between Israel and Iran make for a perfect storm for the bears. Oil leaps $11 to $139 per barrel. GLD follows.
As always, what next is the most important question to ask. If the stock market gaps down on Monday's open, that may be a time to add to longs. The Fed has its hands ties as far as more interest rate cuts. The Fed is partly responsible for the weak dollar and the surge in oil and commodities.
I tell myself to stay calm, that there will be opportunities in the carnage, cut losses and live to trade another day.
Long EWZ, IWM
Short SHLD, TSL
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