Falling Knife

I was premature in my bullishness. The market has gone straight down for 120 points, over 10%, in 2 weeks and we still don't have much fear. That worries me. I have sold out of my long in the pre-market and will wait for lower prices later this week to re-enter. We're not through with the downside quite yet. A piece of bad news and one more push down to 980 will likely mark the bottom.