Hey if you want to short this market go ahead. Keith McCullough and other top traders are definitely winning on those bets. Read their tweets (right column). But we don’t trade here. If you want to I suggest buying SDS or SPXU, the double and triple short S&P 500 etfs. If you want to do options, then buy the SPY August 18 puts in the money at 36 or out of the money at 34- those are seeing a lot of volume and interest. I am just going to sit back and watch the bloodbath however as I have stopped out of half of UPRO and MOS from yesterday. With so much cash on the sidelines (90%) and such small bets on each sector, I am effectively insulated from the down-turn and licking my chops as quality stocks get cheaper. Velocity of the move has accelerated so, we are revising our buy areas lower.
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