My 2 cents - I thought the market had double topped at 1300 and also read an article by abig name technical trader who said we had formed some type of parabolic curve that signaled a big drop. Russel also said when the DOW and the transportation index had both crossed below their previous lows of last Spring it was a sell signal. I bought puts and ended up eating them later. Also, statistically markets that are down for the week on expiration Friday are up for the week the following Friday. The only losing trades I've had in 2 years were buying puts when I thought the market was turning.