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Message: Peter update

After almost three decades of trading/investing/speculating (gambling) on Wall Street, I developed two themes when “game changer” events take place:

1- Trade first, then ask questions.

2- If you don’t shoot until you see the whites of their eyes, it’s usually too late to shoot.

Between what’s unfolding in Japan (how one’s heart is not torn is beyond me), the Middle East and the march to a day of reckoning here in the U.S., I’ve fled to my chicken coop leaving feathers along the way.

I continue to think 10-20% in precious and base metals related equities, 20-40% in physical gold and silver bullion and the rest in cash is my chicken feed until further notice.

IMHO, the events unfolding have too many potential variables to ride into with a sword and shield. We need to see the dust settle (no pun intended). For now the mother of all gold and silver bull markets remains intact and selective exposure to equities related to such is okay. Being liquid with the rest is the safe versus sorry route until further notice

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