Another round of bananas for the stock market. Gold had a huge up move. My tiny position in GLD is a modest consolation prize.
As I always write, it is rarely ever a good time to be making "all in" or "all out" decisions. Fast moving markets are almost always a high risk time for decision making. There is almost always a lower risk time to get in, after the dust has settled. For traders, it is a good idea to trade smaller or take a break after a losing streak. For long term investors, dollar cost averaging and age appropiate diversification, will almost always produce better results over the long term than market timing and jumping in and out. Trading is real easy in hindsight, not so easy in real time (like I post here).
I am limping into Friday option expiration, battered and bruised, hoping my remaining short options expire without incident. I am reluctant to do any new trades until calmer waters flow into the maelstrom.
Positions: long FDX, GLD. Short USO
All are short options, expiring Friday 9/19
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