I've been waiting for a good sell opportunity and I think this is one. I'm putting in a bit of short exposure here. With the Greece bailout catalyst out of the way, I see no other bits of positive news that can signficantly run this market higher. I believe strong earnings are already baked in, and there is more supply coming with IPOs, secondaries, etc. Also, sentiment is a bit too one sided as evidenced by the heavy equity call volume relative to puts over the past couple of weeks. Not looking for much, maybe a couple percent selloff this week.
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