Global Market Meltdown: Double Time

 

 

Global Markets

Now I know why I didn’t buy anything on Friday after covering my short positions.  I hovered over the buy button, I though ‘hey, I love buying peoples’ fear’ but then I thought that it felt amateurish to be doing something like that so soon.

So being a non-astute bear trader, I covered my shorts but at have a ton of cash.  Positions are mostly in quality gold miners, but there also, protective shorts were covered on Friday, so there may be some pain on that front, although positioning is very light.

NFTRH 357 was all about opportunity and a road map toward that opportunity.  With this morning’s global crash it appears the road map is going to be happening on a much more compacted scale than I thought.  We noted this weekend that the margin man was likely to come calling and so there could be another shoe to drop on Monday.  Well, he’s on the phone bright and early and he’s got a lot of margin to call in after all these years of speculation as instigated by easy money policy.

The good news is that it appears there will be no delay in the big test that is going to decide whether this is a massive shakeout prior to a coming bull mania blow off or a new bear market.  The test is very generally the October lows in the US.

We will have an update over at NFTRH.com to refine the map and strategy as it is big boy and big girl time now and the only way to manage it is to continually balance short and longer-term perspectives and parameters.  Keep your heads about you and enjoy the festivities.  It is getting off the hook, in double time.