Many people have trouble cloaking links. I was one of them until not long ago I saw a link cloaker sitting in front of my face all the time. It's WordPress. Since many of of use WordPress, this will be a easy. Many WordPress themes display subpages as drop downs. You simply create a page. I called mine eBooks. In that page, I created subpages, which is where the link cloaking happens. When I created the subpages, I did the following in the html editor, not the visual editor:
<meta http-equiv="REFRESH" content="0;url=YOU AFFILIATE LINK HERE">
PLease wait while we transfer you to the updated page.
Thank you!
Then you simple link to the subpage whenever you want to send someone to your affiliate link and that's it, it works great and click throughs have increased dramatically. Check out my live site using this:
http://www.weeweeslap.com/ then simply hover your mouse over the eBooks menu item and click on one of the drop downs. The link you see in the status bar reflects a link on my site and not an affiliate link but redirects a visitor to your affiliate link. See, simple, clean and easy to do.