If you didn't sell your overnight holdings into the 180 point gap up this morning you should'nt be trading.
I know a lot of people sold yesterday into the close due to GE's earnings report this morning. On December 11th, GE had already reiterated their earnings and guidance. There was very little risk from that standpoint.
I'm glad the Bush news conference was short and sweet, it was obvious the market would tank on the expected lackluster news. I've repositioned myself back into BIDU at 255.77, SPWR at 73.77, EJ at 18.88, MELI at 45.74, 17.28 on VDSI, and 12.8 on JRJC. Long btw. I might even hold these over the long weekend unless the market decides to crash today down to 11,722 - which is a possibility I do not exclude. We are extremely oversold and with a long weekend for everyone who sold their stocks to think it over, I expect some kind of gap up on Tuesday morning. Next week the economic data is light, and I wouldn't be surprised for us to have a nice week finally. The week after that, I would be very careful - lots of data and the Fed meeting. With the rate cuts expected, I doubt there will be much surprisingly positive reaction.
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