Smelly

The breadth is bad , smelly bad. The market is getting whacked for about 2.2% and the VIX is up an amazing 4 points. It still seems like a very methodical selloff - I dont feel the panic - which is a good thing if you are staying short. Dont get me wrong I have trimmed a few positions, covered the futures I layed out on fridays close, bought in some CHK, but I also added a short in BBT, they are doing a large secondary to pay for this bank they just acquired with help from the fdic.
SPG is getting hit for about 5% this morning, I bought in a small piece of my position in there, maybe 5%. MPGpA is down .40 cents today so thats dinging me a bit but its cool.

More later

JB