D.I.

Thank you.

This was VERY insightful and helpful as were some of the other posts. I think this discussion may have been useful to others also. I did go back and reread page 3&4 on the TA  thread and found the conversation between you and #'s to be useful especially regarding an exit strategy. My reason for hedging at this time was best described by #'s...capital preservation. Your analogy to hurricane insurance is a good description of my reasoning for wanting to incorporate a short fund into my portfolio.

I am well aware of my limited prowess in trading, (I'm not a trader) although the benefits of ETF's intraday tradeability has real advantages, I'm rarely able to log on during market hours. (Although I do have a few ETFs (MOO,EWC) as long positions. Ultra's are not even in my lexicon presently. ( I LOVED your F-15 analogy! ... and #'s 'Where angles fear...")

You mentioned something at the end of your thread that I was confused by...                D.I.-["I am not interested in adding any hedges at current market levels." ]                      ...because you are already hedged to your comfort level and you don't want to add any MORE at this current market level than you already have... or you wouldn't want to hedge at all?

Thanks again for your thoughtful and instructive comments.

Proceeding with baby steps,

Greg