Nasty Down-Day For Stocks, What Now?

The issues in Washington are intensifying and as discussed in today's morning video again, the longer this drags on the more stocks will react. 
And react they did today as the S&P 500 sliced below my first target area near 1660.  While some bounces along the way are possible, the next downside target now is the late August lows near 1630, followed by the 1600 area, give or take a few points.

I remain long SPY puts from late last week.

Posted to Online Course: The Essence … on Oct 08, 2013 — 4:10 PM
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