My wild-eyed bearishness from yesterday (Sunday) was on target. I have been tilting bearish as quickly as possible. It's days like these I could use two or three assistants just to punch in orders.
So how far are we going to go? My conservative target is 800 or just a little above on the S&P. I think we might get as low as the mid-700s. I'm really not counting on anything past that, although I will say I've gone from about a 40% bullish/60% bearish portfolio to 10% bullish/90% bearish, so I am far more vulnerable to pushes higher than I was before (by the same token, on big down days, I won't wind up making 73 cents in profits as opposed to the zillions I should be making).
