Famous Short Seller Shorts The Indices As The Market Hits New Highs

The Dow, Nasdaq and S&P 500 are currently hitting the highs of the day. The Dow is up 163, S&P 500 is up 20 and the Nasdaq is up 36 points. Famed short seller Doug Kass is using the strength in the market to short the major indices.

To put his bearish position on, Doug Kass usually shorts a basket of stocks including ETFs. Kass may short the popular SPDR S&P 500 (ETF) (NYSE: SPY) and the PowerShares QQQ Trust (Nasdaq: QQQQ). Doug Kass may also short companies like General Electric (NYSE: GE) that often move with the market.