Greece Jitters

The downgrade of Greece's sovereign rating to BBB+ was a factor in gapping us lower.  After selling off from Friday's high to today's low, over 30 points, the market is not at an enticing level to short. I would wait to short at higher prices potentially on Thursday.  I would have been more impressed if the market went down on no news.  Greece gives sellers and excuse to sell and that's usually not a good time to sell.  I'm sure it will be a bigger story later when the market is more vulnerable, but I don't see it happening this week.