June 13, 2006
What is Richard Russell saying?
He has seen all the cycles. He is not one to pull punches.
I checked in today and he has a few insights, but not much more than I have been writing about here.
Richard is correct in saying that margin and debt will bleed you and kill you in markets like this. I am stupid for even trying to trade this. I know better and will be LUCKY to trade my way out of my Gold, Russia and India positions without big losses.
I do know enough to have kept posiion sizing small and use no margin, but the losses are still losses.
Here you go and I hope it helps: