Lot of scare scenarios out there this weekend. Politics stifling the economy again. The purveyors of this fear are likely those that feed themselves on fear to begin with. For those of us who are all in, this is what risk is all about. I reduced my positions down to 82% from 99% last week but that is going to do nothing for my active list in the morning. When your doctor tells you only a small percentage will catch pancreatic cancer from a drug, and you are one of the small percentage that works out to 100% in my book.
One old trader in my young days used to tell me every dollar was like a son to him. I thought to myself, well in that case it may depend on how many sons you have. Here is one rule I mediate on in many of these disaster situations we have today. The time the big boys buy is when there is blood in the streets. So lower prices attract buyers, thank you to all us speculator men. If you want to be a buyer in a fire sale you have to think ahead and have a cash flow to keep your expenses going until the seeds come up. Sam Hill
