you see, this is where I think a lot of okes are grappling with the principle of risk vs reward. Will we see a downturn - don't see any reason why not. The issue is, how much am I prepared to risk to find out. Lets say yesterday's highs - oh no wait, BB is already in, at yesterday's highs. So he has taken an estimated amount higher than yesterday's highs as acceptable risk. Now the market, as usual, is giving him a 50/50 chance. So he is expecting the market to at least move twice the risk he was prepared to take. If he is not working off these odds, then he is going to lose over the long term. Now the question is, how much can we expect the market to move down in a bull run? If you are day trading, you might have a chance to beat those odds, but like I said before, YOU CANT DAY TRADE WITH WARRANTS!!!