Gold dropped off a cliff this afternoon, probably thanks to Goldman Sachs being charged with fraud — not something I could have predicted! I considered tightening the stop this morning after getting the feeling that equity market sentiment was getting a little too bullish. With hindsight I wish I had done so.

Perhaps I should make a rule that if I consider doing something to reduce risk, that is enough of an argument for doing it.

Update: The Goldman fraud charge has really spooked the markets — equities are falling, 10-year rates are dropping and the JPY is rising. Various commodities have been affected. USD/SGD is relatively serene but is still moving against me.