[Kirkrrr]

[ QUOTE ]
I dont think its so clear right now where the market is going in the short-term. It really depends on how people react to more subprime bad news.

[/ QUOTE ]

That's a given, however the fact that we're right off the all-time high combined with the fact that a lot of bad news are coming out and, like you hinted yourself, more bad news is probably on the way, makes it a lot more likely that we're going down rather than up, imo, therefore a bet on the downside has a higher likelyhood of being right. Also, all the prevalent negative sentiment should discourage retail investors from buying heavy into the stock market, so there goes support. This is all obviously speculation on my part based on simple common sense.

Kirk