I increased my protection. We are in a pretty solid overbought conditions, and the VIX is very close to a rally low.
Usually I would be selling long positions, as many position are overbought, but they are too inexpensive still. (Also, if a melt-up happens, these overbought positions will not matter. Since we are making rally highs, a melt up is very possible.)
I refuse to sell IBM below 150.
I refuse to sell AAPL below 330.
I refuse to sell PBR below 35 (one position). I would like to sell the second position at 38.
I would like to sell MF near 9.