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[cycletimer]

Now that we've rebounced 100% of the decline and sentiment & confidence is back I am becoming much more cautious. I took some defensive positions today near the close. I bought $DUST @ 20.00 to hedge my gold mining positions that I'm not ready to sell yet. I also wrote covered calls on those gold mining stocks. Right at the close I bought a position in $SPXU to hedge my Longs. I've written calls on most but not all my Longs. I am 60% Long stocks & 5% in Gold Miners and that $SPXU is a 10%position (since it's levered 3x I consider it a 30% short position). I've written naked puts on several names that have rebounded ($CSCO for one) as I love taking that premium. Due to the holiday weekend and the dreaded option premium erosion, I did not purchase any speculative index puts. The time to do that is soon. I'm still very cautious through early March and I believe another sell off can come out of nowhere. Have a great 3-day weekend!