possibly...with the breadth readings earlier showing similar action as friday, this could very well end the day with us witnessing the "big one". if that happens, that would be time to put cash to work on the long side.
earlier we were again over a 10:1 ration in favor of decliners...just nasty, and further evidence of climatic/panic selling. With a spike in put/call like that and gap up in VIX like we are seeing..i'm not shorting.
i am also a bit more optimisic based on the two charts posted last night showing these type of readings are USUALLY followed by a nice ST rally...