As high as VIX levels are, and as "oversold" (I hate that word……….) as stocks are, I have entered a massive new short position on the $RUT (mercifully, before the latest breakdown that took place, so I'm already well into the green, just minutes into the trade).

How far could this thing fall? Let's go into fantasy-land a moment. Let's say the (somewhat malformed) H&S pattern completes. What's the measured target? Hold on to your boot straps – – it's nearly 40% below current levels. Ain't that sumfin? I think the odds of this are mighty slim, but…………

I sold my SPY puts (bought only on Friday……). The bounce at the 50% level on the S&P is slightly decent. I am in the process of tightening up stops across the board, and in the case of some ags, taking partial profits.

Well, Hank. You tried to kill me, but you couldn't do it. Not last time. Not this time.

In the past, I would offer up specific stocks that seemed choice for shorting. Sort of like picking out needles in the proverbial haystack. But, as observant readers know, last week I adopted the "Short Everything with a Ticker Symbol" strategy, and, to add to that, "Hold On Until the Value is At Levels You Cannot Fathom." Like $0.

So here I sit. Who knows……….this may even be "the crash" today. I would remind everyone that today is September 29th, which valued reader MoonTrader has pointed out numerous times in his own blog as being important. (Thanks, Moon!)

Hold on to your bootstraps. We're descending into Hell.

It's 2:30 in the morning; the S&P on the GLOBEX is down "only" 20 points now, having been down 30. I'm pretty amazed. I thought it was up the same amount, provided the bailout passed.

This post is mainly a comment cleaner, since the number of comments being posted is alarming. I'll see you later this morning!