Tonight’s HERE should be interesting…the password is SUBSCRIBERSONLYat 6PM EST
Aside from my measly $54,000ish longer term portfolio (up from $50,000, or 8%, since inception on April 4th, 2011 vs. S&P 500 being down 10%) which is only half invested, I have roughly $840,000 in cash in my short term accounts ready to deploy if necessary today…no expectations, no positions.
In this video which you should ALL watch before the market open today, I outline what I’m looking for today, ideally a big crash worth buying into…I’m not shorting in fear of a fast snapback rally and if the grand dip materializes and the bounce is weak, I’ll exit quickly for THAT is the beginning of how crashes happen…and remember today is a Friday, I HIGHLY doubt I’ll be long anything over the weekend, even if a bounce holds, anything can happen over the weekend and this could just be the beginning of something truly catastrophic.
Odds are everything will be fine and I’m overreacting, but instead of making a few thousand bucks and risking devastation by being bullish here, I take the better-safe-than-sorry route.
Picking specific stocks before any true devastation is fruitless so be sure to join the chatroom today as I’m sure it will be hopping (and students check out your new exclusive chatroom on Profiding today too!)