Are you selling short or selling something you bought cheaper?
If you're selling short you always need to figure the future number of dollars able to find their way into the market, not the past amount. The future amount is always more as more wealth becomes more concentrated toward the top. They're the ones who move the market. It doesn't matter if there are less of them, as long as they have more total dollars to put in the market. I'd like everyone to be along for a bull market but we can go up just from the printing of the dollars and getting those dollars in the hands of traders.