re: Time to buy some XOM(Oil stock discussions)?

I've always maintained very, very conservative equity investment philosophies. It isn't often when portfolio insurance breaks even, and that isn't the strategy for insuring gains in any event. Or insurance in general, notwithstanding the comments on here about cheapest is always best. But I digress.

Not being able to time the top of VIX, I sold to close yesterday at a strike of $26.00, which paid for my last two years of insurance, and gave me a bit of cash.

It's been a tough year. I went through this morning and I'm up unrealized gains of 14.45%, but realized gains, which is really the only number that counts, is slightly above 12%. The only reason 12% is at 12%, is insurance. Period. If I backed out net cost and gain, I'd be level for the YTD.

This is my after tax account. Obviously the retirement account I have at my business, managed by "experts", hasn't fared as well. Partially my fault as I went in to sme income funds likely too early.

In any event, I stand by now looking for capitulation, mostly in the oil sector, but am open to ideas in other areas.

The technical guys can't seem to determine a technical bottom, so Monday should prove interesting.

Having an extremely well balanced portfolio, my hope is we drop another 25% at least. I'm trying to get my head around how much VIX I could collect, and a decent point to sell about 25-40% of my metals at that point.