Looming Sovereign Debt Crisis

The CDS spreads are blowing out not only in Greece, but in Portugal and Spain.  This explains the weakness in the Spanish market and also the overall weakness in Europe while the US is basically unchanged from yesterday's close.  Also note that China has been lagging the past few days as well due to new property regulations.  The storms are brewing, we can get whacked hard at anytime.  I have yet to pull the trigger on my short, but I want to do so soon.