Eric Bolling, notable commodities trader and formerly "The Admiral" on CNBC's Fast Money is out today with some very simple advice: Trade smaller. When markets get crazy and people start taking losses, they tend to want to increase their position sizes, attempting to re-coup losses. Often times that decision turns out for the worse. So, keep things small. Cash is always a big ally in this kind of market.
Also, he mentioned he was still bullish on the U.S. Dollar and will be buying any dips, as he notes it has broken out on a multiyear basis (play it by getting long UUP). And, consequently, he feels there is still more room to the downside in energy, as various funds and traders continue to unwind positions.
You can read his thoughts here.
Wednesday, September 3, 2008
Eric Bolling Says Buy Dips in U.S. Dollar, Wait on Energy
blog comments powered by Disqus
