SPY has pulled back to support and although that support could break and prices continue lower, i think the odds of a bounce soon are pretty good.  as mentioned below, i just covered most (but not all) of the short positions scaled in over the last few days.  however, that is mostly to lighten up and book some profits.  i also entered a couple of new short positions today and yesterday as well (SHW & MNTG).  bottom line is that i continue to be net short but taking some profits off the table here as i believe market conditions continue to favor an active and very adaptive trading style right now (long to short, short to long, & quick profits).