One percent away from support

Looks like the markets are heading toward support levels but it seems that it may not bounce this time because with financial earnings and the fed meeting a little bit away, there seems to be very little reason to rally.  So at this point it looks like the Dow will drop below 12,000, Nasdaq below 2200 and the S&P below 1,300.
As for me, I’m still long NMX with hedging putts on Capital One and Simon Properties.  So I’m still doing fine – but why does this merger take sooo long!  Good luck folks.

A short that I’m currently looking at is Borger Warner which I will state my case in another post.