I think you might want to wait for a pullback to the 1310-1312 area first. Might want to catch some of that pullback too.
There is no 'brutal' at all - save what you deliberately do to yourself. Think of lots and lots of soft cuddly pussycat points of net profit for yourself. The YM today, Tues 3/11/08, going up/down and repeating, had 29 'legs' of 15 or more points - most were sizeable with some 'biggeys' such as the last one going up to the close. That is a gigantic sh*tload of points offered to traders in the session. You trade those gyrations buying upmoves and selling downmoves sequentially with the precise signalling of an accurate methodology.
What is so difficult to grasp in today's rally? React to what you see, not to what you think might happen. I read posts in this thread where "traders" continuously shorted on the way up. Is that sensible? Take a step back and ask yourself, "am I acting against the market or with the market?" Who is exploiting whom? Landis82 pointed out very correctly. Go with the flow. The market that looked so gloomy yesterday has reversed. Bulls denied the bears from making progress, simple as that. And you keep discussing about whether this is a temporary pop-up or where you want to open your short positions. Utter nonsense! Established traders make money while you are still cussing, rationalizing, and analyzing.
Of course double-bottoms can fail, but that's not best example IMO. That DB gave a nice long opportunity for swing and even position traders. It held for 6 months and wasn't broken until the 9/11 attacks. An event like 9/11 could break any type of textbook pattern.