Support is simply not being found. All levels being cut through.

Exciting morning so far. Dow down over 300. S&P down testing critical support at 1060. Tightening stops now. Considering going long a number of positions, but cautious due to recent losses in knife-catching. One good breakdown today is a current short position, shown below.

I'm going to pull an all nighter (again) because I want to be fully prepared.

I took a moment to go to my Disqus administration, because there are some people whose comments are being sent for moderation that shouldn't be; mainly because I don't do moderation on the comments! I feel bad that people are taking the time to enter comments and theirs aren't just flowing into the stream like everyone else's.

When I was glancing at the "blocked" list, I noticed one particular comment from back in June. I almost never block people, but it really bugged me, because the reader said I was "hurting" people with my shorting ideas.

The amazing thing is to read the post, which is here, and get a sense of the tone both from me as well as the commenters. There's a lot of despair in the air. Little did we know that we were about to take over the world.

It's nearly four hours until the open, and the S&P is already down 33 points. I've said it a hundred times, but I'll say it again – – we are either going to go somewhat lower (Dow 10,000 or so) or crash (Dow 8,800 or so).

As for the obnoxious commenter from June (who apparently has been divorced three times – – big surprise)………I think the only people that got hurt from this blog were those that tried to fade it. For those of us that have shared our knowledge and insights, we've made tens of millions in the past few weeks, and I think there is lots more to come.