It caught my attention as he was using the spy/iwm spread to assess the risk on/off theme as discussed here.
That is a nice blog. My risk off trade is spreading the Dow, which has a lot of defensive stocks in the index vs the IWM, which has a lot of highly levered small cap stocks. The nasdaq can also be good because some of the bigger names have rolled over. So if you get the urge to short, getting long the DIA/IWM or DIA/QQQ spread is a great way to get short and still make money if you are wrong!
Closed QQQ @ 55.92 and I'm done today. A profitable day although SLV fooled me again twice, I'll stay as far as possible from that shit, it moves like a rabid snake and I always lose money trying to ride it.