Trade!

Buy 1% position in SPY Jul 108 put @ $1.70.

All the short-term indicators are in my favor. Russ Winter and Dave Rosenberg say this last week is a gift for the bears and a sucker's rally, respectively. The McClellan oscillator just hit the highest value this year, showing an extremely overbought market running on momentum. The chart is also favorable, and it looks like the S&P 500 is putting in a head and shoulders position. There is a possibility of a breakout and a double top being put in, but if the market doesn't beak out from here, it is an extremely bearish sign.

I was trying to find more stuff to short, but I already have options on SPY, FXI, and EWA. The other charts, like KBH and ANF are way in the gutter already. I'll just have to keep looking, and maybe I'll roll over EWA.