Doug Kass Presses His Shorts (SPY, QQQQ)

Doug Kass, noted short seller, just posted on Twitter, "I pressed all my shorts today into the ramp". Kass has made many smart calls over the last 12 months as a hedge fund manager with Seabreeze Partners.

Howard Lindzon is also buying protection. This is from his Twitter, "bought a few more ($)spy puts with today's highs as further stops."

If you believe what Doug says, maybe it's time to short SPDR S&P 500 ETF (NYSE: SPY) and PowerShares QQQ Trust (NASDAQ: QQQQ).