Intraday reversal would be a gift from heavens today!!!

Yea, I saw that... I saw that the market closed at a new high for this year yesterday... I still can not get long comfortably since the market is way too overbought and is staying that way for so long. I am long calls of some equities that lagged the rally and not so for any obvious reasons - e.g., CEPH, VRSN etc. These calls are a hedge against my puts on COST, and my short position in SDS, JPM!

My hands are itching to go and build a huge short position --- all I need to see is one sign of weakness and I hope to see it soon!!!! I keep saying that...and the market proves me wrong... this is quite humbling experience... I'm glad that this learnings are not costing me heftily because of my hedged portfolio but am hoping to go all-in in one direction, i.e., to the downside. Wait and see.

Pankaj