The market finally seems to be correcting just as the bulls thought there was clear sailing as far as the eye could see. Generally, the first dip after such a strong move higher is bought and there is a second chance to sell stocks. Even if we first see some further downside, I would expect that to be the case this time around as well. The caveat is that if the Greek crisis comes to a head, traders are very poorly positioned for a crisis and that could exacerbate the downside.
I still have a small net short position and hope to be able to raise the size of that position after options expiration. I apologize for the laggage in posts but I have been on vacation and will return to my normal schedule next week.