This is going out to both Premium and PRO Services as it applies equally to all positions. The market indexes are all breaking down and below important support levels. Absent an unanticipated reversal into the green today, we may be seeing the beginning of the next leg down which will take out the March 23rd lows. Exposure to the short side would include index puts and VXX calls. Everyone got yesterday's heads-up to buy VXX calls toward the close of trading, those calls are still good buys, especially the May 15th $55C trading at about 3.30. If today's decline (currently -650 on the Dow) accelerates, it's all over, we are going to new lows. For now at least, there is no "it's too late" to join in the short side. The March 23rd lows are still a long way below current levels.
