Predictions Revisited

Well it's been, what, forever since I've even looked at my blog. But on another day where the Dow falls +500 points it seems ripe for commentary.

Then I look at my last post, where I handed out some advice. Some of which appears to have been good, but some was horrible. Had I checked in a few months ago I would have recommended getting out of energy (and in fact I did get out).

However, the post is dated May 30, so let's see the results, were you to take the advice.

Your best bet would have been short on VLO or TSO for a 55% gain. However you would have lost even more had you gone long on CHK. Looks like all the banks and hedge funds had to ditch out on energy.

So what now?

You can't beat cash in the bank. Gold seems to be bouncing back but is still a bit of a crapshoot.

Short selling, once it comes back, might be a good idea. In the meantime don't be surprised if tech continues to see some downside as the gloom spreads.

I'd go long GLD or DGP.
Short anything financial or tech (Puts on QQQQ not a bad choice these days).

Oh, and all those people who say you should ride it out are either idiots or getting rich off of your ever-shrinking retirement fund...