I'd like to buy TNA, but the market is too overbought to open a position now.
you won't be saying the market is overbought next week when the debt ceiling deal is done and market soars to 1400 on the S&P. You can't go wrong with TNA, buy and hold
If the debt deal comes soon, and say, the market pops up 200 points, I'd be all over TZA, BGZ, TVIX. I want the pop from the debt deal so I can resume trading.
A yes a signal that a short term top is near.