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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: CommanderCricket who wrote (142693)	12/18/2010 2:22:01 PM
From: upanddown	Read Replies (2) of 206181

I'm up about 17.5% on approx 3M. I'm happy with that because it includes huge cash positions (60% currently in cash and CDs). I'm also at an age when income and capital preservation are the key goals. This was the year where I really got into using options for income enhancement and downside protection. The idea of just buying and selling a stock seems like a rather quaint notion. My basic strategy has become: Find a dividend paying stock you like at the current price. Sell puts on weakness. If assigned, sell deep-in-the-money leaps on strength. I'm just trying to grind out income with safety. Puts have been a revelation this year. After expiration yesterday, I'm up 50K on expired put premium. I love the smell of expired put premium in the morning (this morning after Fri expiration). Biggest winner, MHR by far. Biggest loser, probably C calls. John

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