<<sad thing is even in bull markets i used to make great profits on my shorts.>>
I think we had one or two of these gravity defying bull moves last year. I suspect that if you just stick with your strategy and simply accept the fact that you are going to get hit every now and then, you will do just fine. After this power move has run its course, we will probably be back to churning for 5 or 6 months. Then DaBoyz will pump it up again sufficient to get Bush re-elected (or at least that is prevailing theory).
Well, it looks like I will get another ATH today what with being 20% invested long. Although the casual observer may think the the Warpfactor port is kicking butt this year, I am in fact up only about 1.3% YTD (not counting todays action). If the NDX finishes up 1%, then I will tack on another 0.2% to my YTD gains.