I'm having a very good morning so far, but no thanks at all to my index puts. Even though my $RUT and $SPX puts did wonderfully at the start of the day (thanks to a ton of bombshell earnings yesterday), the new market theme indeed seems to be Earnings Could Be Even Worse, So Buy! So if you're a bank that lost $10 billion, but you might have lost $12 billion, investors are gobbling you up.
I've been "weeding" my charts for any underperformers or those that seem to have fulfilled their destiny. I am pretty floored by the strength in indexes, particularly $RUT, but I guess the bounceback still has some life in it.
