Todd's good, but let's not elevate him to god-like status. At 3:42pm today, he wrote: "I hopped into two legs of my bear costume (50% conviction on the short side) right around S&P 850...What I'm digesting right now...is whether I've got an adequate edge to go home furry."
Clearly, he has a loss (realized or unrealized) on those two bear legs, with the S&P closing at 855. It's not clear if he went home short, but if he did, it's my humble opinion that he shouldn't have.
Regards,
Tycoon