In 2000 this best trade was not to short stocks (too hard to time) but to go long safe haven assets (treasury bonds) for a much smoother ride. However this time around that might not work with the Fed wanting to raise rates(which would hurt bonds).
It might exactly work because a rate raise is expected. That way, you can make a gain twice. First due to the flight into safe haven assets, and then again when the raise hike is postponed again and again. (Just a scenario. :) )
