All the short term downward trend-lines are broken, and the upward trend-lines are accelerating. Until we see a change of character, prices will continue to advance. I think we're starting to see the more dogmatic of the bears covering. Imagine going short near the 1250 lows and then imagine what you would be thinking holding rotting puts. The bulls continue to herd the masses into equities. Look at NFLX and friends... the energizer bunnies have got gas. You can't afford to fight the tape here with the prospect of a fifth wave. Possibly a trend ending fifth wave, so a blow off move is not out of the kwestion. Maybe holding a few unleveraged shorts pay off in a few years, but let's push it to the limit.