Low End of Range or New Hope?

Well, now that day after day after day of bad economic news has consistently rained down on the market, finally the markets are moving down in a meaningful way. It's about time.

But looking at the chart, it's hard to say what happens next. Is this simply yet another move to the lower end of the range, or are we positioning ourselves to begin breaking down again and start partying hard once more?

Being a bit of a wimp, I've closed out 75% of my index positions at great profits and now am holding on to a small $RUT put (and, as usual, my bajillion equity puts).

As for the new blog platform, I still have to read the comments, but I am planing to formally move slopeofhope.com to the NEW site this evening. We'll see if that happens or not. If it does, I'll stop yapping about new versus old and will simply focus on continuing my posts as normal. Thanks!