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Wednesday, December 22, 2010

protection

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.

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