Interesting quote I pulled off the internet. "In a market like this, every story is a positive one. Any news is good news. It's pretty much taken for granted now that the market is going to go up." - Wall Street Journal, 8/26/87, the day after the 1987 market peak This is VERY different from today's environment. Headlines today would read more like, "In a market like this, every negative story is spun as a positive one. No one can believe that the market is going up." The fact that joe investor sentiment is so different is what is causing shorts to pile on like there's no tomorrow. A few wise observers have noted that the market will try to screw the most participants most of the time. In this case the majority are bearish right now.