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I actually bought some physical gold on the drop, as well as some longer dated calls (LEAPS actually). As for other longer dated ideas -- I run a whole portfolio around a year holding period that's hedged -- go read my other threads (there's a specific thread in my column on it (http://steadyoptions.com/forum/topic/1117-long-hedge/) There are also some other ideas that other members discuss in the non-earnings trade section. Of course if you have an idea of any type you want to discuss, just post it, I'm sure someone will comment on it. By and large though, I'm hesitant to be pure long in anything. Sooner or later 2008 is going to happen again, and I don't want to lose half of any full portfolio.