It’s not just a matter of knowing when a correction is approaching.
You had better have a plan for dealing with it, once it arrives. Subscribers of ‘The Sharpe Report‘ already know what my personal plan is for our accounts. I’ve shared a smattering of my thoughts here, on the public pages of ‘Sharpe Trade‘.
In the stocktwits stream the other day, I pressed a short on risk. Once again, I shorted the USD/JPY. Thankfully, I managed to squeak out a tiny profit, before the rally began. And then the entire concept of ‘risk off’ completely, and utterly died. We ripped higher overnight than a hummingbird caught in a windstorm.
1956 was the level to watch.
I didn’t stutter.
We are proceeding to engage with our plan.
What is yours?