Secondary Account Notes /last trade in CL july 70.43

this is a chart with 18 minutes to go before the break it looks like they are going to settle it on the down side as we move`into the overnight. Overnight positioning 

will be posted an hour or so after re-open-cCurrently just got short one for a quick trade i will be flat by the close

Once again the market has pulled back 300 points over the last two days-As you guys know I have a not so hard and fast rule but a guid- line I have been following since early march

Things are a little different because even with the pull back most of the equities I have acquired are still double the price they first were when I started the buy program RIMM was 40 now 80

AKS was 9 now 18.xx was way lower etc etc. Also the many calls I sold on moves up have expired or are about to expire leaving me with significant long position in fact after expiration the account has burgeoned to a level that has given me pause a bit. I added like clockwork again buying BAC at 12.77 and lower and F  and AKS at what today I would consider very slick entries but as I step back and realize where I started buying the entries do not appear so slick

at all. Now I am long- long enough for now and probably will make a slight strategy adjustment.  The usual talk has surfaced as it does every time it goes down like this "we will revisit the march lows" it is unlikely but all the same the prices now are lofty on the next push up I will re-protect the secondary account by selling July and august calls against long equity positions and after major up moves by either the VIX or S+P puts for a systemic blanket over the entire portfolio. I remind members that have been joining me on this strategy to keep things in perspective and make smart moves like some call selling on up days. 

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