As stated, my plan is to step in with a bit more cash when the Dow hits ~7500.  So far, I haven't seen it there long enough to open / add to positions.  In the meantime, like most longs, I'm bleeding.  My short GE puts are in the money as is my short XLFs.  These are two vehicles that I'm going to be all right with owning. GE's continued drop is a bit eye popping.  But what's even worse is my C.  I was assigned at 22.50 and had been writing calls for a few months.  I believe my total cost basis is somewhere around 21.00.  The fact that it's trading around 7 bucks today is something that seemed highly unlikely, but it's happened.  It is the worst holding in my portfolio.  C @ 22.50 felt like a steal much like GE feels like a steal at $17.  Goes to show you that a low price can still go lower.

So I'm really in a holding pattern at this point.  The market is still volatile, and with my puts in the red, I can't close them and write more.  Nothing gets triggered until we go below 7500.

I waited years to deploy cash into the market.  Since 2006 I've been sitting tight.  It took years for me to get in ... I also suspect it's going to take years for me to really see this pay off.  Makes one consider CDs, eh? :)