Now I know exactly what my detractors are going to say: that I top-ticked the market and went long at exactly the worst moment.
Well, smart guys, I sold my SPY block at 129.3 this morning (I bought it yesterday after the close at 128.11). Not the highest price of the day, but not bad. So I took a nice profit. And I've been totally short since then.
Not to say I'm balls-out short. I'm only 43% committed right now. But just in case the world is laughing at how poor old Permabear Tim finally threw in the towel and went long at the worst possible moment….it just ain't the case.