Yes, I am short, too, like nearly everybody in these days. But in April I got my fingers burned with this method. My exposure is not big until we break the uptrend line from Nov 2012. Still the uptrend is valid. Another small bounce could be ahead. In my opinion - don't risk to much - wait for the breakdown. One thing I don't like to be now is long. It's decision time again ;-) up or down ?