Massive profit taking in stocks and gold today. The markets got hit hard. Our stop-loss was triggered in our gold mining stock. Our stock was down 7% today and it triggered a sale of 75% of our holdings in gold. We really didn't want to sell it; however, gold can move very fast and it is extremely important to have risk controls. We will look to play index gold ETF's for a quick bounce. Maybe as early as tomorrow at the open. We will be moving back to trading stocks immediately because commodities are too tricky. We will stick with the easy money.
We got it wrong in the shot-term and the gold traders took our money. Running with The Gold Bugs is a dangerous proposition unless you on the inside. Touché Gold Bugs, Touché!
And "That's the Word on The Street"
