Whoops, I'm sure Dennis Gartman and his "famed Gartman Letter" will be on Fast Money today saying how he got out of gold just in time when in fact he told the world two days ago that although he wasn't a gold bug, gold was about to go hyperbolic. It must be tough trying to predict the future. And in fact it is, that's why people try to play both sides of the fence at all times when doing public predictions. Stop listening to talking heads or bloggers and start listening to yourself. That's my free advice for today.
Many of you have been reading this blog may have noticed that my blogging frequency has increased over the past few weeks as I got short the market. As you can imagine I am down money since getting short the market, this is the time when most people pull away from posting. But my goal is to stay active and involved and show you that trading is not always rainbows and butterflies. It is times like these that the things I have been sharing over the past couple of weeks are so important. You need to trade small relative to your account. I have a decent short position in the market and my portfolios are set up to make some awesome returns if we finally turn lower. But something I would like to point out is that my account is 70% Cash. I learned a long time ago how important it is to live by the rules you preach. Because of my discipline I am able to continue to hold my positions, I have time and capital on my side. I can't stress enough how important it is not to get to big....


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