Is the Summer Rally Over?

I am not really worry about today's drop. I think it's more due to profit taking on lousy unemployment report and low consensus of a new wave of QE3 released by tomorrow's FED meeting.

What if tomorrow continues to drop?

If the market continues to drop and end up with a lower price than today's closing price. We should think about liquidating some portion of our position as the market will probably take a short break and have a minor pull back. It's not bad to raise some cash in order to lower down my average price of my current position. I may also think about buying some puts to hedge the risk.