I went to the sidelines with my AAPL calls and sold my PCP long position. I didn't want to have any call options when the trend is down and I needed to sell PCP to raise cash (and take the long term gain). Most of my other plays are fairly defensive and my AMZN puts are still in place. I need to see a definitive trend here before going short. I am watching the XLF (hit its November low at open) and the S&P which is holding onto 1429 at the moment. A good defense is being put up against a major "head-shot" attack by the bears.
I have no idea who will win. Time for the sidelines. Jobs is a big deal and the bulls thesis is shot to pieces. Now all they have is the Fed for the moment and nobody is home.
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