I have shorts set on the SPX at 1170 . I've had enough of trying...

I have shorts set on the SPX at 1170 . I've had enough of trying to 2nd guess what's happening. No one knows for sure what's going on. So many differing reasons as to why things may or may not happen. Take a look at the past few weeks using a 2-4 hour chart and you will see that the US indices are firmly entrenched in downtrends. Who are any of us to fight billions of dollars of movement in funds out of equities?

The initial rally was on light volume. Last nights fall was on much higher volume. The US is going lower and very soon - whether it comes down to consumer confidence, options expiry, poor earnings, increasing trade deficits, Asia deciding that they are going to hold less US$, terrorist threats, Refco trading scandles -whichever one you want to choose, pick one run with it and go with the trend.

Everyones perception of a crash seems to be alot different. It would be interesting to know what people see as a "crash". I would have thought 10% off here or there is healthy. At the end of the day, nothing goes up forever and from a technical (ie charts) viewpoint there are sell signals all over the place.

I am currently at 75% cash and looking to re-enter specifically gold stocks in a few weeks. As mentioned above, once the SPX hits 1170, I am short.

Marchello