This is classic contrarian action in the market, people were bearish for the past 3 months and now that they've turned around and become bullish, you have to give these oxen some rope to hang themselves. Things will not collapse right away, I think you gotta wait for a false breakout to have the bulls really get excited and the bears panicking before you see a top. The catalyst for the top will be Bernanke, who is going to try to cause another short squeeze at the next meeting. Until then, the bulls are in control and will continue buying up tech and every other hot sector. Wait to see the whites of the bears eyes (do they have whites? hahaha) before going short.