Correction Numbers--personal opinion

We have not totally broken down;however, many have asked me where we would settle if a breakdown is confirmed-the numbers are not pretty. The first targets would be Dow 9500 (DIA 95) and S&P500 980 (SPY 98). That is about another 6% from here on Dow or about 12% from high on Jan 19. The S&P500 would be another 9% from here or about 15% from high on Jan 19th. These would probally be intra-day numbers. Not exact-approximates. This would be an ordinary and expected movement given the run-up in the markets since the March 09 lows. No biggie-but scary.I put the probability at >60%. We have accumulated some shorts- (FAZ) and are looking to close out the last long position (even though it is extremely strong)-we can replay it. I prefer not to play long in markets like this. Either step aside or short (if you are brave)...The market is still on my "RED ALERT" status.