The Qs outperformed on the upside today as the rest of the market continued to digest the large move up from last week. The Russell 2000 is flirting with the 200 day MA once again and that gives us reason to continue to remain defensive. There are some fantastic upside moves in the stocks with large short positions as it seems the shorts just cannot get it right in picking a top in momentum names (BIDU, CROX, GMRN, etc.) Another area that really stands out is some of the smaller Chinese stocks (CLWT, CBAK, CTDC, PACT, CHNR, etc.)