One would think that with yet another all-green-in-the-morning screen, I’d be kind of bummed about the day ahead. Not so! I’m feeling very in synch with this market, and what’s going on in front of us lines up nicely with what I’ve been anticipating.

First off, there’s China. Last week, on Monday, I went whole-hog buying puts on JD, YUMC, and PDD. I made nice profits on those first two, although way too early, but I held on to PDD for a triple-digit (about 112%) gain. I sold almost all of it off yesterday but held on to some just because it doesn’t expire until January 17th and probably has more downside. Short-term, however, I decided to get very light on China based on the $HSI gap I have written about lately. The notion that China has bottomed short-term seems to have been on target, as FXI shows.