Asia Rises. We are being cautious and looking for a good entry point. $PCLN

Asian markets were mostly higher over night. Japan's Nikkei 225 closed up 0.3% at 10,253.14 while Australia's S&P/ASX 200 ended 0.7% higher at 4,735.70 to mark its strongest closing level since Jan. 22.

South Korea's Kospi Composite added 0.5%, Taiwan's main index tacked on 0.4% and the Shanghai Composite finished 0.8% higher. Hong Kong's Hang Seng Index ended down 0.1%.

Since we seemed to have a losing streak of late, we decided to go on the sidelines for a few days. We will re enter some positions shortly. PCLN has gained alot in the last few days and we are circling it for a fade, however we want to be sure of the right entry point. BIDU as well seems overextended but both these names are very dangerous in either direction.

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