I started backing off my wild-eyed short-term bearishness on Friday, and I've continued to do so today. Whatever bounce we're going to get might be confined to today, but today's reversal has been meaningful. I went up up 1% to down 1% in the span of about 90 minutes.
For the moment, one good opportunity I see is what I believe will be a rise in interest rates. I think IEF is going to go down and TBT is going to go up. I've gone long TBT. Below is IEF, which I wasn't able to find to short, but it's worth considering if you can locate any.