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Pre-FOMC NFTRH Update (excerpt)

|Includes: BOM, DIA, ProShares UltraShort Oil & Gas ETF (DUG), DUST, GDX, QID-OLD, QQQ, SCO, SPY
"As noted on the blog yesterday, DUG has been brought in to add more 'bearish commodities' flavor and this morning I am also going to add the DUST bearish gold mining ETF as a strict hedge against what I wrote in the first paragraph [about being "clueless" as to what the Fed would do].  If all goes well post-Fed, this will be dumped at a loss [it wasn't].

I am a chronic risk manager and others may not be that way.  So there is no recommendation here other than to stay balanced until we get the FOMC behind us.  Cash is a great position when pending questions are yet to be answered." 

After the Fed, I promptly added SCO, QID and a short on the QQQ to the BOM, DUST and DUG positions.  Not looking to make money, just looking to manage risk for now.

This morning subscriber Pierre sends this note, which makes it all worth it for me:

Subject:  Well Done

"Love it when there’s a plan … makes me feel like I am not just tossing cash around blindly.

Right now sitting on loads of cash!"

It's all about having plans amid a world of players either without them or operating on faulty ones.