We just had a warning wednesday that there is no firm bottom. That rally yesterday was just another day for bears to throw more puts/shorts at the market
Here is what i am reading from
TIM: Cautious balance portfolio for rally or crash
FLY: Added to his shorts yesterday but held longs
GIO: BULL Trap... But Caution advised. Follow leading stocks for bull indicatiors
MAC: We needed a follow through on a rally to confirm it true (nope, none, nada)
STOCKBEE: 'Wall Street Lays Another Egg'
So, in the end i was busy elsewhere yesterday doing 'more important things'. I only regret not entering my puts at the close of yesterday.... especially China. DUG looks cheap here, but i think China has more room to fall. OPEC will step in soon.
Anyway, with yesterday and today we find ourselves back at square one. I didnt touch a thing. I remain patient on the fall of China stocks to continue....