According to George Soros, Greece is basically meeting the conditions that the IMF would impose. He also said something much more ominous: we haven’t yet corrected the imbalances which have created the crash of 2008.
Protecting your capital at this stage should be your first priority. True it always should be your first priority, however, as I mentioned in my post about the potential #1 crisis, the current correlation between commodities and equities is nearly 1:1.
Whether your a trader or an asset allocator, I would suggest that you use protective stop orders – mental or GTC – or at a minimum have an uncle point to protect your capital. It can take a VERY LONG TIME for the markets to come back.
On a side not, is it me, or does it sound like there is a helicopter in the background?
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