slow start this morning...looks cheap, page-8

No worries. I think while the liquidity engine shuts down, (which is necessary to contain inflation) the China beast carries on. Strong double-digit growth forecasts were confirmed last week. Together with the recoveries in Japan and the eurozone, this economic backdrop will provide the ingredients for this bull market to move to its second leg.
A correction in stretched valuations was needed for ZFX etc, but this is only the end of the next beginning.