As excruciating as it was getting to the "X" spot, it was pretty obvious there was weakness in store. The huge question now is how much weakness? I already went long 20 /ES today just to hedge my 45 put positions (!) in my personal account. If we start getting some strength, I'd like to participate in it. I don't think today is going to clear out all the air in the market. I'm not ready to be an aggressive buyer yet.
