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Talking Heads Say RUN!!!

Looks like it will be another triple digit red day tomorrow, as the numbers and comments out of CSCO definitely are not helping.

So we'll look at our support levels tomorrow and see where we should stop, right now I'm thinking around 1050 on the S&P.

But its funny, how one red day has all the talking heads running for cover! Granted, it was a big red day and it looks like we could easily head lower.

But... but, if your portfolio is setup the way it should, you welcome the red. Red is opportunity, as who wants to buy at the top of a technical cycle? Not me!

And I have plenty of shorts and covered calls on which to make money. And as soon as we reach the bottom, I will be more than happy to sell some puts on all my favorites.

Too me, technical down cycles are just as important as technical up cycles. Don't be afraid, be opportunistic! That's why we always have cash on hand...

Disclosure: Long DIG SLV VXX Short XLE SMH QQQQ XRT