You CAN short it. 1. borrow some bitcoins on #bitcoin-otc 2. sell them on MtGox 3. wait for the rate to decrease 4. buy som bitcoins at a now very low rate

You CAN short it. 1. borrow some bitcoins on #bitcoin-otc 2. sell them on MtGox 3. wait for the rate to decrease 4. buy som bitcoins at a now very low rate 5. pay back your debt 6. profit