fwiw the ultrashort I hold is SKF:
http://finance.google.com/finance?q=AMEX%3ASKF
a financial sector short. I think these stocks keep getting punded,and the outlook on the sector looks negative in the shortrun (at the very minimum). However I also feel which every week these stocks plunge, they are a good value buy (possibly b/c media/ wall street overreacts to everything?), so I reckon I will have to let go of SKF (which is shorting the sector) sooner or later, and possibly buy some Citigroup or wamu, etc...