An extensive early morning micro (gold sector) and macro (treasury yield relationships, e.i. yield curve) update went out this morning. Of course the word 'risk' showed up but also limits, parameters and 'management'.
As difficult as yesterday and today (and really, the last many weeks) have been the secular bull in gold is intact as is the cyclical one out of '08. These being the markets, managed as they are by people with influence (on yield curves for starters), we can only go with the flow if we choose to play. I have incrementally managed risk with a parameter falling yesterday, but now we come upon a final parameter and risk rules will be followed as instructed.
I am not going to ID the parameter because a) it could be wrong but b) we each make our decisions based upon our work. The newsletter has made clear what I have needed to make clear week after week, again right or wrong.
A lowly player needs to be able to remain intact and do whatever is needed to be a strong player when the time to be brave comes. I have done that to the best of my ability while walking a line between eliminating risk (and ID'ing it for subscribers) and not putting myself out of the game until the parameters tell me to be all or near all, out.
Opportunity is coming even if parameters are lost here and now, which is close my blog reading friends.