That is the way I played it too. I closed my short out on Wed if I recall -- a little too early in the day, though -- probably should have just gone long at close Wed but pre-market on Friday wasn't too bad of an entry provided we continue back up next week. I'm not one of those crazy Elliott Wave guys but when I see a wave pattern that looks fairly obvious (looked like the stock market completed a wave 3 at end of prior week and now we're going into wave 5), I will factor that in. Throw in some bullish seasonality in a risk-on environment and time to push the long side again. We'll see what happens!
I'm back out of long positions as of today -- some things don't look right to me so I'm stepping aside.