Just to add to the chorus that the rally seems to be over, IBD placed the market in correction based on yesterdays reversal action on high volume. Jerry's leaders index gave us a few days early warning this time. Since January 29 I have been partially short in BIDU which is hanging near its covering point. Bill O'Neil says that the optimum time to go short will often be when you still have some long positions as a rally stalls.
The gold and the dollar are starting their fourth up day in a row, treasuries are starting their fifth day up in a row which looks like flight to safety to me. I wonder what kind of damage control Bernanke is going to attempt in testamony today or tomorrow. It amazes me that the investor world thinks that the Italian election has any real consequences. It appears to me that there is zero chance that any of the western world nations can repay their debt and the Italian election won't change the eventual outcome, maybe the timing perhaps.

There is enough funny money sloshing around the system that who knows if it is going to be deployed again on the long side and punish the bears. Market tops can be messy.

There are a few stocks that are in or near a short taking point.
I am short CMG from two weeks ago when it stalled out at the 200-day. It is still hanging around this level.
If QCOR could rally into the 200-day and stall it could be an interesting short candidate.
PCLN may fail its recent 4th-stage base that is 10 months long.
VRSN seems to be rounding over on a right shoulder of a head and shoulders top pattern, same with ALGN.
CAB seems to be failing a flawed late-stage base.