This complimentary article from Options Profits was originally published on September 27 at 8:25am ET.Options, Futures, Commodities... CLICK HERE to check out OP free for 14 days WEBINAR: VIX On Five Highly Active Stocks, Weds., October 3 at 6pm ET w/Mark Sebastian and Jill Malandrino. CLICK HERE FOR INVITE AND TO REGISTER. Despite the decline in the S&P 500 this week, here are some reasons I'm not putting on new bearish or hedging positions. 1. This is barely a pullback. SPDR S&P 500 (SPY) is down 1.76% from last Friday's close, and is just 3% from its highs for the year, which are also the highest levels since 2007. Weak hands dumping stocks this week are feeble indeed. 2. Quantitative hedging signals lean bullish, too: our VIX portfolio hedging strategy has spent most of 2012 trading with a very light touch, and is currently at its smallest allocation allowed - not for the year, but period.