Was looking at ways to hedge my mean-reverting strategy that focuses on financial stocks.... Specifically I am looking at June - July of 2008, when the financials went on a virtual nosedive and volatility, while increasing, didn't really go through the roof or anything. What is a good trend following strategy - if you only want to get involved when the trend has been established and is moving very stong - AND you want to profit substantially from it quickly. My first thought was just buying calls or puts on the 3x ETFs or XLF or something like that, but didn't know where to start as far as indicators. Thanks anyone.