Still no reason to cover...

S&P @ 1285...... -25 handles

Quit frankly:  It is utterly amazing to me how orderly these down moves are...down 25 handles on S&P really isn't even scratching the surface of panicky....last August we closed on the 3rd at 1260...August 4th down 60 HANDLES at 1200!!!  Closed the 5th at 1199 so flat...next Monday the 8th of August the cracking came down 80 F'n HANDLES at 1119!!!

My analysis has been spot-on...no reason to change anything...I see no reason to real in any of my shorts...if we are still in 1st wave down we have lower levels to come...a strong reversal from here and a close above 1297-1300 will have me closing some shorts...if we stay down here and close below the prior lows than we still have lower levels to come...

riding the bear wave still, no reason to cover....