The information we got today was negative, the charts are now obviously negative, and the one-sided mentality is confirmed from the broad media reports I am seeing.
But, how can we possible be as negative as everyone else when we knew this was coming? We saw this coming via the recent Market Thought posts 'a hint of concern' to 'think ahead'. As for me, I just can not be.
I have not posted this chart in some time, however the 1040 level is a strong support level. The strength comes from the current trading dynamic with the 1040 level being the low end of an apparent channel. But, it also is a support of a larger macro support, that appears very favorable.

Ultimately we are all held hostage to Mr. Market, and we little people can only try to take advantage. The SP500 is down 9-10%, since hitting 1130, within a 7 day period. (That is pretty fast.)
All I can control is what I do, and with this decline, I went from approximately 60% cash to about less than 20%.
(Keep in mind when it was around 60, it was much higher because I do short, while being long certain positions, and constantly churn the portfolio. Also, less than 20% is very very low for me due to the option strategies that I invoke.)
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