You might as well be short in the meanwhile.Wait for the New Lows to drop to the 100 line (left side margin).
Note that the upper $SPXA50 (S&P stocks below their 50MA) has just approached the bottom.
The current movement is more like the JUN to JUL 2007 drop than the SEP to OCT drop, so be aware that the mkt can just keep bottoming a while longer.
Someone remind me to pull a list of NYSE losers the day this all falls to the floor.
The biggest losers one day often become the highest gainers the next.
Also, this can happen midday.
I recall that NOV 21st turnaround happened midday.
http://tinyurl.com/brtt7r
