As any prudent trader would say, anything can happen in the market. Something else any prudent trader would say is that you must employ tight money management. I made 8% shorting, then lost 2% because of this sudden take off. Guess what? I'm OK! Though I wish I had caught this move up, here's the opportunity for me and anyone who's willing to stick to a couple of fundamentals:
Little volume before the breaking of a trend line can be a sign of a false breakout.
When you see a long wick, bet against it.
I'm willing to stick to my fundamentals. What's your position?