Daily recap for Monday, August 17, 2009: I covered a short position (initiated yesterday at 1,606) first thing in the morning at 1,572.50 for 33.5 pts gain â way too early considering the market action later that day. I was looking for a bounce back to key support levels that were broken today, and tried playing it from a long side, but had no success - closed a trade at 0.25 pts loss (entry 1,568.50; exit 1,568.25). I donât have a staying power on the long side, as I think there is more room left on the downside. So I will stay in cash for now to see if markets try to re-test the key broken support levels tomorrow. If this happens, I will be shorting aggressively.