Going Shorter

I have been in a defensive investment postion since January, holding 25% cash. I also have a short position on the S & P 500 equal to 15% of my long positions. It strikes me that the weakness in the market of the last couple of weeks may just feed on itself from this point.

Without selling any stock, I am increasing my short positon to the point that I am "market neutral" that is to say whether the market goes up or down, the value of my investment portfolio should stay about the same. I would rather do this than sell stock because I want to keep receiving dividends.

If you do not understand any of this, just ignore it or call me on the telephone. A written explanatioin would be tedious.