BUY PUTS ON SPY OR DIA

Here is a rare intraday posting on the Blog. There is about an hour to go in the trading day. The rally looks like it is breaking down. The next move should be either a mild move down to fill in the Monday gap, or a huge move down to continue the downtrend. Either way, the market should move down within the next few days (I'd say 1-5 days). Buy puts on the SPY, DIA, or QQQQ. Give your self plenty of time (June or July). Initial target should be to fill in the gap (Friday's closing price). The market should not get above the 4/26/10 high for a while...maybe even a long while. If we do go higher, you would need to flip the switch and go bullish. If you had call options over the last few days, it's time to take profits off the table. Those bullish trades recommended Sunday night were for a short term bounce. I believe the short term bounce is near completion.