Could the sluggish summer months place a stop on the momentum? W... technicals continue to show an intact bullish trend, I've been accumulating short positions and hedging longs with "deep in the money" call options. Yes, I may sustain a temporary unrealized "paper" loss, but i want to be protected from the very second the infliction point begins. But lately, all news has been good news, or at least neutral news. Investors took in stride the bankruptcy filing of General Motors last week. They also welcomed a May jobs report Friday that showed employers cut 345,000 jobs from their payrolls, versus forecasts for 520,000 jobs. The rationale was that the number was shy of forecasts and suggests the pace of job losses is slowing.