Well, are you? Are you good and scared? That's how the market works you know. You think you picked a good entry point...you bite the bullet and go in. The market moves your way and your feeling preeeetty smart...then it happens.  The market begins to move against you...slowly at first, so you just blow it off. No worry here. A little give back is expected, right? Then it accelerates, and your profits...those illusive profits...they're becoming illusive again!! And in a hurry!! So you begin to second guess yourself. The market's dropping like a rock and there's only 1 hour before the close! Your hearts racing...how could I have been so stupid!!!!! What to do, what to do?? Sell, man, sell!!!!!! And so you do. And you probably lost money on the whole trip. And you swear you won't do it again. But you will. What I just described is human nature at work, and it was at work full time today. Many, many people experienced today what I just described. You may have been one of them. Now don't get me wrong. The market could keep tanking from here. 1200 on the S&P is the line in the sand I'm watching. But it's not there yet. The market could easily reverse from anywhere between here and 1200 in the next two days. If it does, all those who bailed will feel like fools. But that's the markets job you know. It's to make fools of most of us. And it generally does. Now I will be honest with you. The odds favor 1200 holding and making a lot of folks sorry. But the odds aren't 100%. The market could just collapse from here. My point is this. Always have an exit plan when you go in. Don't let emotion dictate what you do. Know in advance that you'll hold until a certain level is breached and don't worry about it. Emotional trades are usually losing trades. Learn to control your emotions. Have a plan. Be mechanical. Don't let the market work it's emotional magic on you. That's what you need to know today.