It might be a good choice. I don't see the market doing very well in the coming months. However, we are very very oversold. It is just as risky IMO to be short this market as it is to be long. If oil drops one day than the market soars.
Basically IMO the market is no longer trading on fundementals and instead is trading on outside events like the price of oil. That is the main reason I'm in cash. Until some event causes the market to change. I'm looking for a key reversal day, capitulation, or a major pullback in oil.