Looking like 2008......all the rallies after July 2008 were shorting opportunities; that is, until the trend reversed in March 2009 and the shorts covered or got massacred.
I still think this Euro thing is ridiculously overblown; the Greek economy is about the sized of Michigan, and when you toss in the other PIIGS (Portugal, Ireland, Italy, Greece, and Spain) that's overall about the size of Michigan + Illinois + Ohio + Pennsylvania = so what.?