Long US equities and long gold and I’m not happy about the situation. It’s Monday in Asia and US futures markets are down a good amount. Off 60+ in the dow. Needless to say, my best weekend research says that this is a good time to being to try getting short US equities… (albeit i suspect there will be even better opportunities within the next couple weeks)… not to mention, long dollar, and short pound, bonds, copper (some day), coca, sugar, and cotton. Yet, I start the week recently long on equities.

What can you do? Let’s start with what you can’t do. You can’t change your mind every session. It’s an expensive habit. I’ve tried it before. I’m in these positions based on principle. Those principles are rooted in a plan of action. I will follow the plan to it’s very likely somewhat painful outcome. So be it. If the markets have taught me one thing, they’ve taught me not to spend too much time trying to monkey around. If you have a call, make it, and follow it to it’s end.

It’s great to really get into the markets, into a particular opportunity. You get to know a particular indicator inside and out. You know every major wiggle or waggle of an oscillator and how the market is likely to respond under such a circumstance. But, if you are not feeling profoundly connected with a serious exit strategy at hand, you best run for cover or just stay the course.

On another subject, here is an shot of an interesting market:

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Copper has had a tremendous recovery. (Much like sugar.) I don’t think copper is over. But, this is one I have my eye on going into the fall. If you don’t see what I see, I’m looking for opportunities on the short side for this one.

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