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The overall market trend is still down, my model projects this down trend at least last for another couple days and depends on how deep it corrects, it may have a second wave of correction (wave C). If you have been shorted on any rally since Nov. 19, refer to Broad Market Trend. You should have made some profits. IMHO, the Dubai news is quite significant to turn this bear market rally into explosive sell off. I won't long any stocks unless it corrects to a reasonable level. I still believe gold and commodities are the place to go since this is a country level crisis and gold is the king of currencies. Also keep an eye on volatility index.