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[cycletimer]

several of my individual stocks are having good runs ($VOD, $COP, $CMCSA) and I've covered calls several points above current trading prices to hedge these positions. As a speculation I don't like shorting an index up here. I don't see much value in shorting $SPY, $QQQ, $IWM, etc. Sorry Blu, no disrespect but buying $SPY puts here (and I don't disagree with the cycles topping over next couple of days!) is suicidal. Been there, done that (shorting ATH's), didn't like results, won't do it again! As an overall portfolio hedge nothing beats adding a position in the US Long Bond. $TLT is great but it takes up a great deal of capital and doesn't move all that much unless it's in a defined trend (not a trading range). For trading range trading, I like $TMF (the inverse to this if shorting bonds is $TMV). $TMV is 3x leveraged the Long Bond. It's not suitable to holding for weeks/months at a time but as a portfolio hedge with some uummpphh nothing beats $TMF. I am long from $49.65 In lieu of shorting an index, and since this is a trader's market, I like picking an individual stock.... in this case I am short (a little early I might ad!) $Facebook ($FB) from $70.60 lastly, I agree with Blustar that Gold is toppy here and cycles are ligning up for a ST top in Gold. I am Long $DUST from 18.75. I exited $FNV @ 53.12 today, been Long since 42.03. PORTFOLIO: 65% Long stocks (all dividend-paying "Value" plays, ALL have covered calls written against them)... (no plans on selling any of these) 7% Short Gold (via $DUST) 10% Long Bonds (via $TMF) 20% Short (via $FB)