I would have to agree unless you have very tight stops in place...and even then a stop doesn't protect you if the price gaps up. There is an old adage about never attempting to catch a falling knife (buying during a collapse); the same can be said about trying to stop a rocket (shorting during a bubble). Although you may ultimately be right, unless you have deep pockets and are willing and able to hold through a vicious bubble continuation, you will be forced to buy/cover at a loss only to see the trend reverse in your favor. There is a reason why a trader's best friend is a trend. A lot of perma-bears got slaughtered during the dotcom bubble in much the same way that perma-bulls got slaughtered during its ultimate collapse...the reason: both groups ultimately rationalized their viewpoints and married their trades instead of trading what was in front of them with proper risk management steps.