Market rebounds are certainly suffering from diminishing returns as witnessed by the rally of the 11^th June 2012 which petered out by lunchtime. Some stocks are looking attractive but with political and sovereign concerns from Syria to Spain looking dire and growing economies slowing down. In my opinion valuations will remain fickle and volatile. Thus, I’m build-up some reserves and my watch list too. Timing and temptation are hard to get right never mind getting the research done.