There are too many shorts! Nearly 100% of all equities have a short ratio between 1-80%. This is the #1 reason equities are at all time highs and likely will continue higher. The markets are drifting in an ether trance.
WSM had a marvelous run and lots of money was made the past 6 yrs, but WSM and other housing-related equities appear to be running out of steam. Unfortunately, nothing lasts forever. The cool thing is now we can make even more money to the downside.