Window dress this!

I am gonna be brief here.

We certainly saw the blood on the Street today, the problem is that with DOW now solidly broke all the previous lows and SP500 poised to do the same, and still relatively low VIX, the blood shedding may be yet to run its course. There is no doubt that market is oversold on almost every time frame, however, without any conceivable catalyst and the out of ammunition Fed, the oversold condition alone won't produce any sizable or sustainable rebound. With that said, the market often does not accommodate the majority views, so what the market will do tomorrow is everyone's guess. Who knew, maybe big boys will do some serious window-dressing tomorrow/Monday as the month/quarter ends.

Since both long and short could be very dangerous undertaking at this stage, unless you are as sharp as Razor, or as experienced and ballsy as PCAGUY, or as fast as the wabbit, you might just hold your cash tight and enjoy the battle between bulls and bears.

Position update:
I currently have some BIDU calls (entered when it was just above 117) and some CTRP calls (entered when it was around 45.8), I might lighten both positions if market gaps and rally in the early going tomorrow.

One more thing: it is just unbelievable that the Fed engineered a double bottom with its massive rate cut and liquid injection, only to see not only the imminent demolish of the bottom, but the raging inflation that would cast a very long long shadow on the market for months to come. If I was big Ben, I will cry my eyes out tonight, seriously.

Short-the-rebound candidates: ASK, CF, GOOG, PCX, RIMM, AAPL.
Bottom fishing candidates: CLR, CRM, FSLR, MON, POT, SOHU, X.

Good luck all!