Completely disagree with you. This is about free money from Banana Ben. Once they remove it, the whole house of cards comes down. Which is why they'll either never remove it, or we'll exhaust ourselves first.
A feasible game plan: Ask yourself, "If I shorted the market right here @ 1205.50 and placed a disaster stop, where would I place it?" (Self: "Ummm....uhhh...1225.00!") Now, buy the market right here @ 1205.50, no stop, profit target 1225.00
your strat is not without merit. it certainly has worked great so far. i must admit that i won't be surprised if we see new highs soon. the bull is amazing. my working hypothesis is that the bounce in the last two days is due to high VIX spike on Tue. now that quite a bit of volatility has burnt out it may be easier to go down.
I see bubbles in Chinese real estate or appl or bidu, but the broad s&p might correct but not crash (more than 50%)
It would be nice if we finished with a double top today. China will sell off Sunday evening. Then ... "Sell in May and go away" might start on the first trading day.