Longs are getting hammered on all fronts and bears are raking in the profits. Which camp do you want to be in? Do you want to stand with the money losers or the money makers?
Remember, if you short it is best to short a stock that would be doing bad even if this correction was not occurring. That is the safest way to go.
The ^VIX is up again and is now exceeding it's earlier high from a few days ago and TVIX is at a one month high. Remember that shorting TVIX is like money growing on trees but you have to wait until it is near it's peak because it can be extremely volatile. However the assurance one has is that it always goes down eventually. It never goes up and stays up. It's free money. I will enter my short position gradually over a week. Currently I have no position as I sense that this market hasn't finished taking heads.
It seems that the emerging markets kicked off this correction but as is normal once these corrections get started they seem to have a life of their own as the people who never saw the signs of it coming decide after the fact to start selling in the middle to lessen their pain. But it is not just about the emerging markets. The markets were due for a correction. This is healthy and is necessary less we get another situation like we had in the late 1990s which only leads to deeper and more painful corrections in the end.