Bug? Html editor reverts some edits...

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If I manually edit this:
<p><strong>Title</strong></p>
<ul>
<li>Bullet</li>
</ul>

To this (to eliminate the line break created by the paragraph):
<strong>Title</strong>
<ul>
<li>Bullet</li>
</ul>

It will automatically revert to the initial code (it adds the paragraph tag again).

Is there a work around for this?

Ideally I should be able to edit the html code however I see fit...

Ideas? Comments?


Thanks!