This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
Well, we couldn't be happier.
I'm sorry if you're reading this and you are losing money in this downturn – clearly you're not one of our Members as we had a very happy Friday in our Live Member Chat Room talking about all those juicy opportunities as we watched the herd of market gazells panic into the canyon, where we have them completely surrounded.
We cashed out the last of our risk on June 7th and I discussed it in our morning post on June 8th, while the Dow was hitting 18,000 and everyting still seemed awesome. My comment at the time was:
That's right, the Dow hit 18,000 and we took the money and ran, closing out over half of our uncovered Long-Term Portfolio positions, pretty much everything that was up 40% or more, getting our CASH!!! off the table just in time to take a 2-week trading vacation ahead of the June 23rd Brexit vote. It's so much easier to take your money off the table while things are still going up – you get much better prices from all the suckers who are still buying (they are called "bagholders" by market professionals).
If you are one of those bagholders, I am truly sorry but not for my lack of warning you as we had been talking about Brexit and the potential repercussions for a good month before that yet the market kept on rallying but we expected a market correction regardless for solid, FUNDAMENTAL reasons and, as I said at the time:
SOMETHING is going to hit the fan this summer. After the Brexit vote, even if the UK remains, then we will turn our attention to Brazil with 6 weeks to the Olympics (Aug 5th) that country and their disastrous economy (World's 5th largest) will be in the news constantly – as will fears of the Zika virus, which is bad enough that 150 experts petitioned the World Health Organization to postpone or move the Olympics to avoid a possible global pandemic