Because it's TWELVE-THOUSAND!!! You know, most people who trade equities or options actively, eventually become Bears -- at least sentimentally. There's lots of reasons for that, but primarily, it's because markets, when they go down, go down faster and harder than they go up (They take the stairs up, and the elevator -- or window -- down.). Jesse Livermore, regarded by some to be the greatest stock trader of all time, shorted the market in 1929 and made a $100 million. Adjust that for inflation. it was 1929. Jesse was great because he was the greatest Bear. But you don't even need a crash. Corrections of up to 5-10% take a matter of days, while the climb back up can take weeks and months. And if you're used to the idea of doing best in bear or crashing markets, then crashes don't scare you. You secretly long for them. Bull markets are effing boring. The other reason is that Bulls are either making money on the transactions (brokers), or they're suckers, morons, or ignoramuses when it comes to understanding what's really going on. At least that's how the Bears see them. Do they make money? Sure. Buy and hold, and...