since May, it has always been about safety

there were 5 classes at the beginning, gold, oil, natural gas, China stocks and defensive stocks,

first 3 dropped off one by one, bond and financials added in,

tech enjoyed a little value adjustment, a few young guns are noticeably strong (AKAM and to a less degree telecom equipment makers) due to the online video revolution and the trend of smart phone, Americans finally started to catch up with the world and dump en-mass their first cell phones purchased in 90s

China will still be China, and with the curency change rate changing quite dramatically lately, it will get more and more attention,

defensive plays finally had a coming out party today with DOW, and Warren Buffet's shares, hitting new high. They, particularly those with secular (rain or shine) growth potential such as PG Metc, are really really the stars and will remain so in foreseenable future.

Go China. Go financials. Go safety. Go secular. Go defensive.