One of the major zen beta masters, BIDU, has stubbed its toe today dropping $54 today - it opened down about $75 this morning - I had a ten lot of puts in there - which made us some nice coin - helping us claw back a little closer to even for the month.
Its surprising to me that BIDUs pooping is only hitting the other beta names for 1 -3%.
But thats the market for ya - surprising. Id say the most troubling things for the bulls in this tape is the weakness of bank stocks and weakness in treasuries.
We'll see how the rest of the day playsout....never underestimate the bulls.
JB
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