Buying Puts

Back in February I shorted Zion Bank and made a significant profit. So, because the Bollinger Bands on Gold are narrow, and Gold is in an intermediate downtrend...I am going to use those profits to buy some puts on it, in case this big meeting coming up carries with it some event risk. If Gold flies, I lose some of the move's profit. If Gold sinks more, I will sell some of my puts for a (perceived) profit.

Just bought 2 May 900 Puts of COMEX Gold for $370.00 (plus commissions)...this will hedge my Gold for a little while.