Peter Stolcers going bearish?

Here is an excerpt from his email dated 12/3:

"It’s possible that prices will break out on a good number tomorrow and that reversal will happen in the next week or two. Regardless, I feel that this rally is in the ninth inning and the headwinds are blowing. I have started selling out of the money call credit spreads on weak stocks. I don’t want to get too aggressive shorting the market into year end.

Once the uptrend line from March fails (SPY 107) I can get more aggressive with my shorts. DON’T BUY INTO THE RALLY, LOOK FOR SHORTING OPPORTUNITIES ON THE BACKSIDE."