But, when it is this obvious it is time to short big.
Other than the homebuilders, nothing in the market looks compelling for a short to me. I played Sprint on the short side over the past few days, but it has found its range and that trade is played out.
But, if you want to time a short (or long), watch FCX. It has been finding solid support in the $64.00 area and solid resistance around $69.00. Don't play it without watching copper. If copper is on its way up, FCX will follow. If copper closes below $2.80/lb. stay away from FCX