You've raised a great question about shorting the Venture. I wish I knew a way of doing that. Right now, all I can do is sell to preserve capital, but due to liquidity issues, I'll probably only be able to sell half my portfolio before it will be time to buy back in. Supposedly there's an ETF on the way - if it's liquid, it would be a great instrument to play either direction.

Just generally speaking, shorting a strong market is very tricky, even if a correction is imminent. The safest way to do that is what Peter often recommends - a bear call spread (sell a near the money call, and buy a cheaper out of the money call just in case). You make your money on the premium difference and your risk is limited and defined. The advantage of a bear call spread over buying a put is that you're collecting premium versus paying it, so there's some margin of error built in.