OK, so here is my update on trades. I went to ALL CASH at the recent market top (S&P500=900) , but I am crying because I should have turned that money right into shorts on the indexes…had I done that last week and bought something like SDS, I would be up 12% with today’s downturn in the S&P500.

However, I can’t complain too much.

My portfolio is now at a high for the last eighteen months. Both my 401K and my wife’s 401K (which I manage) are now both up 48% net including commissions, since the Oct 2007 market top. A couple months ago I reported correctly we were up about 38% since Oct ’07, so in the last two months I have inched our way step-by-step up another 10%.

I’m very glad I dumped all my gold and oil positions last week. Both oil and gold are getting hammered and coming down fast, which is exactly what I want them to do, because I’m looking for another buy opportunity at lower pricing.

I think the smart move now is to wait for what looks like the bottom (on oil and gold) then just dump my entire portfolio 50/50 into physical gold, and oil stocks. Then just hold them long.