I'm in the process of researching various instruments to use this strategy on.  If the "sell in May and go away" mantra holds true, nothing should be entered until at least that point.  I'd rather wait and see how these markets settle out.  Today is a down day on ok jobs news which has me thinking that the markets may be nearing a correction.  SPY is bouncing back from the lows right now and I wonder if they will try and close it green.  Who knows at this point.  I am not a buyer at this level at all but apparently a lot of folks are.