Michael what I posted before was if you are a short term trader...

Michael what I posted before was if you are a short term trader looking at it on a micro level.

If you have a long term negative view then you could be short anytime really as one or two hundred XJO points wouldn't be a big deal. For short term traders, that's a big move.

There is an old saying that goes to this effect - "An empty bus always travels faster"

This means that when the market wants to move, it doesn't wait or give a reasonable chance for us to catch the ride.

Just look at Voltair's 1930 chart, it shows that when fear sets in, up days can be hard to come by. Yet volatility will be high at this time giving you an opportunity to sell rallies should you wish.