Even if you're long, it may be time to consider insurance. http://usmarket.seekingalpha.com/article/34941 Caution Light on Markets: VIX Rising Posted on May 8th, 2007 Larry MacDonald submits: Is it time to buy put options on the market indexes or inverse exchange traded funds? Maybe so: with stocks having gone on a tear and now looking overbought, perhaps it's time for some portfolio insurance. A choppy patch could be in store, a correction that gives this bull market time to rest. Some of the signs of overheating: ⢠a CNNMoney.com article notes that 24 of the past 27 days have been up for S&P 500 index, tying a record not seen since 1927. ⢠insiders are unloading into the rally (as noted in an earlier post) ⢠the VIX measure of volatility is not going down â it is edging up ⢠the spread between corporate and government bonds is edging up VIX 1-yr. chart: