Close Your Eyes and Sell Them

I really think you can close your eyes and sell the S&P's. Now of course we need to be smart about that using pairs and options strategies, but the S&P is really over extended. Considering that all the moves in the market seem to be happening after hours this is a weird rally. We don't see any intra-day strength we just see chop, and nothing else,except for today. I think what is likely to happen is people get bullish up here then we start falling. I really don't see the ES moving much higher. I really like the SPY-IWM long pair where you but SPY and short IWM with a little skew to the downside. It would probably be better to do that with futures though so ES-TF. Otherwise, I have moved out of bonds and gold, but I am keeping a small position in FXY (short OTM put spread). I have many stock positions, and I have a positions in Brazil (short put spread again). The only gold exposure I do have is some non-directional iron condors in NEM and GDX. To get short S&P's I have a couple bullish positions in volatility, and I have some positions in leveraged inverse ETF's such as FAZ. I really like the slightly bullish calendar spread in UNG however. There really is ample opportunities for premium plays in it. In oil I am tempted to short but it seems dangerous. For now, Oil could have a lot more upside, and gold and silver a lot more downside. Bonds I am not sure, but all I will say is that interests rates could easily rise, despite the fed.