Two Fed executives (St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan) made public statements today expressing how beneficial it is right now to dovishly restrain the raising of interest rates. This news came in early afternoon and seemed to give a shot in the arm to equity markets that were starting to fall steeply from early morning highs. This bullish kick may be short-term, but I am losing my nerve with my short position. Yes, the market could still reverse down from here, but it could also "break out" dramatically through the current resistance lines mentioned yesterday (25,400- 25,500 in the DOW and 2,740 - 2,750 in the S&P 500). I am now covering (unloading) my short position in the broad stock market with a small loss. If the markets do take a dip, we will likely be looking to go long at the bottom of that correction (as long as it is not too severe).