Copper sunk again on real trading platforms (i.e. the LME and US markets) to below $3.10. I haven't done the exact calculation yet, but it looks like FCX was a 14% loss.
Will I be whipsawed for this decision? Will the market go into full crash mode? Is AIG the financial tsunami Bill Gross was trembling about? Only time will tell. But right now I'm just fine in cash and holding the LT core portfolio (for the record, contains lots of gold and silver bullion and PCU and bits of other things). If the market turns I may miss out the first few percentage points of the upswing, but I won't miss out on the lion's share of it for sure.
Being wrong is part of this game so take your losses like a man. I just hope I'm not wrong twice on this one.