I also get the feeling that Hussman is getting an itchy trigger finger. He knows he has a lot of gound to make up to restore his admittedly (but with a plethora of exuses for) tarnished reputation. Unfortunately, his historical ability to trade in and out of the market is horrible as evidenced by his horrendous performance in 2008 (9/17/08 - 11/20/08) when he lost 32% in the matter of 2 months.
Man, he had to be feeling good when we hit 1560s the other day on the S&P. Now back over 1600 and he missed again. S&P up 140% and he's down, over a 50 month period. What else can you say? Guy is a total weasel.
At least he used the declines to lower the staggered strikes, that's why you didn't see too big of a decline yesterday. He's done a lot wrong but seems to not be betting on the direction of the market with options as much