It is certainly no secret that recent Geo-political events are playing hard on this market, affecting stocks, the dollar, and precious metals.
It is also no secret that these markets have risk, and sometimes as traders we have to know when to step back, let things play out, and re-enter the market at a better time.
Saber rattling and war rhetoric is putting pressure on stocks, keeping the dollar at the flat-line, and pushing the price action of precious metals higher.
Now you could try to get fancy and attempt to weave your way in and out of these market gyrations however, a better strategy in my opinion is to simply step back, let all this play out, and pick better spots moving forward.
Knowing when to take a step back away from this market is just as important as knowing when to get in-and this is key to being a successful trader over time.
With the rapid and unpredictable unfolding of Geo-political events, I felt it was prudent to close all of my positions, sit back, ride out the Geo political madness, and look for a better spot in this market over the next several days.
I will keep you posted.
Gregory Mannarino @marketreport
