I played it for the big bounce. It didn't come soon enough, and I can't have money sitting around waiting too long. There are too many good opportunities elsewhere.
When I say defied the shorts, I don't think anyone expected the support VAPH is getting in the 7's. It is refusing to roll over for now, and big blocks are still there on the buy side. Why do you think there are large buys every morning? Are the shorts getting nervous because of the weak close, and panic covering in the morning?
I'll be watching, and if the game starts up again I'll be back.
I also think there's a good chance that the broad market correction is only about 1/2 over, and there sure is a lot of flight to quality, meaning growth is getting pounded. In general I'm selling some growth and continuing to be defensive in my posture for my portfolios by adding to URPSX positions.