The Dow is down 270 at-present with no sign of relief from the selling pressure. The NASDAQ Composite is now down 70 and has broken through 4,000. The S&P 500 shattered 1,775 early today, and is now off 37 points at 1,746. There was a slight bit of support at 1,750 but that is obviously not holding. The 1,675 level is probably the place to start putting cash to work, looking for a short-term bottom at around 1,660 or so. I will likely spend about half of my cash around 1,675.