Okay here is the plan

Now that futures have deteriorated to -470, I will re-establish my long position in BIDU if it approaches 235 prior to the open- a very small one. I expect a fade of the gap down as we approach the open.

Update:
Okay, if we can see a continued deterioration, I can envision a quick gap fade after the open, which will be good for a few points. The rate cut can fuel a short squeeze if the market appears to be stabilizing itself. This is an extremely short term play.