I understand your sentiment, mine's more like... "I go full bear if we are met with a stonewall in jan 2016".

I could totally see us going down to the lower 300's, even 290's, and testing those levels too.

There was massive dumping at that peak and throughout the 400's, without much rise in shorts. That was hodlers and bullish traders selling, I suspect not all of that is on an outgoing wire at the moment.