I went short 500 shares of STLD at $45.70. I had a short set just under the 50 day MA, which of course triggered today.
I was also stopped out of my 300 share long position in STLD at $45.90 (entry at $47.70) for a 540 loss (-3.7 %).
Note that the 50 day MA on the S&P 500 is 1487. This level is crucial for the market, and could lead to a correction down to the 1450-60 level, where there is tons of support. If we do get a drop down to this level, I will load up on SSO (long 2 x SPX) since I expect a bounce at this level.