Held TASR puts, brokerage (GS), insurance (AIG) puts and others (AMZN, KLAC, MXIM, SMH, RIMM, NFLX) although 25 to 33% as our sells were incremental locking in at all support areas. WE knew it was a short cover rally and as we expected those that went long went straight into 'bull traps' although we did enjoy a MU/RHAT earnings run we were not expecting more than what we got.
AIG 70 puts lovely 3 days downside (had 2 of them) no hint of any upside or reversal just a steady eddy drop.
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