Gift of Higher Prices

"You're walking around blind without a cane, pal. A fool and his money are lucky to get together in the first place."
--Gordon Gekko (Wall Street)

Today's hefty bounce driven by China's overnight rate cutting antics seems a gift to longs who regretted their exposure yesterday and to bears who wished for higher prices to get short.

May not be right here right now but I'll be scanning for downside opportunities. The banking complex is one place where I'll look hard.

position in SPX