China

All of the growth is dependent on China. One of their major banks has decided to raise mortgage rates. The stock market does not like raising intrest rates. Shorting Chinese companies should be a good idea here. I am in particular focusing on BIDU and FXP. Also i believe the next down leg will be happening soon. I will slowly build a position in SPY June $108 puts.

Also VXX looked real attractive into the close yesterday.