Krisbarry,
If you are talking about a net short position in this bull market, I agree with you and I don't think that there are too many of these bears out there (they will be all broke by now).
But if the market is moving up too fast and too hard for traders to become comfortable, instead of selling the shares which comes with all the paperwork, CGT, 45 days dividends rule and the like, I'd rather buy a few put contracts with a similar effect to taking profits which has worked fine for me except for a few ocassions when I became too greedy, stubborn and stupid.
Just don't feel too comfortable to be a naked bull at this stage.
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