I had been getting more spooked in the last few weeks and previous posts have alluded to taking money off the table... I hope my cautionary stand was well taken and this crash hasn't caught people off guard.... the flip side is that we have a warehouse of solid specs that will have a high probability of settling out and making a comeback in the precious commodities... I have taken the liberty of removing reference to picks in these snippets... using only the excellent summary paragraphs
Here is the opening gambit from HRA
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The past several weeks have been underscored by the expression “bad-to-worse”. So much so that we aren't convinced the consolidation we are in will run its course for a while. Much of the world is rethinking politics, energy infrastructure, growth strategy, and the nature of reaching out. We have focused this issue on HRA acting out the cash making ethic it has talked about for the past few months by reducing the list of companies we follow. Unfortunately, because of the reactor mishaps in Japan this includes all the uranium explorers we have been following. However, we are doing this to free up cash in anticipation of bargain hunting to come. A number of the updates are focused on that.
The best focus you can have right now is to sort out your own risk tolerance so that you can stay within it. If it doesn't feel right, it probably isn't. There is no reason to marry anything on the HRA list.
David Coffin & Eric Coffin
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From Grandich:
I came into today hiding in my chicken coup. As anticipated, Japan has gone from bad to worse and not even the “Don’t Worry, Be Happy” crowd on Wall Street can spin this. The temptation will be to use ample cash reserves to buy select equities. The difficulty in that is we tend to buy too early and what we like gets to a point we never thought they could. My experience suggests because of this one should consider using half of their allotment when the first temptation is triggered and save the other half for a level you don’t think is possible but would consider a real present. If it does get there, great. If not, so be it.
Peter Grandich
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GLTA Lostoutwest
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