Are We Having Fun Yet?

It's pretty nasty out there folks. The bears are grinning ear to ear at the moment as they press their bets as the bulls throw up their white flags. This market surely isn't for the weak. How low can we go? That's not easy to figure out but levels some smart traders I know are watching closely are Dow 9,650, Nasdaq 1,710, and S&P 500 1,060.