I am 100% certain that this bull phase can not continue indefinitely. So you might say i'm bearish on the next 18 to 24 months at this point. I do have some short positions, but they are all hedged and very little affected by these upswings, such as today. I can, therefore, afford to keep them on as long as i like. In the meantime i enjoy trading a good rally as much as anyone. The market can go to the moon as far as i'm concerned. I love it!