The Big Boys, page-432

Hi Orwell.

Jan 14 Put primarily as a hedge for my VanEck trades, then I doubled down yesterday after Yellens speech. To be fair the 3 bags included both tranches so not technically in 24 hours, but my tranche 2 doubled. I chose Jan for a few reasons. 1. +1-2 months ATM tend to be the most liquid. 2. POG has already put in a decent leg down so I don't want to be too forward looking as it will be close to a short term bottom soon. 3. I'm only holding for a few days, (or in the case of tranche 2 weeks), so time decay not a big issue.

I got myself freeheld this morning, and i'll let the rest ride for a few more days, as I expect we might be ready to make a final leg down for a intermediate cycle low. I'm prepared to stop myself out before if I feel like the bottom is in.