Note: A new Instablog has been opened for September discussions: Hindenberg Omen Blog - September, 2010.
The comments below were contributed during the month of August. They are a continuation of a discussion led by reader Albertarocks. The preceding blog for July can be read here. For further reference, see the original post.
Disclosure: Long several S&P 500 stocks as well as long and short positions in Nasdaq stocks.