We measured, using femtosecond pump-probe experiment, the time evolution of transient absorption in aqueous CdS colloids. The signal rises within the time resolution (= 0.5 ps) of the experiment and decays with two exponential time constants, 4.8 ps and 132 ps. The ultrafast rise of the transient absorption is considered to be for shallowly trapped conduction band electrons after photoexcitation. The amplitude ratio of the two decaying components varies with the pump intensity and the decay times increase in the presence of hole scavengers. Even though a biexponential function fits the decay well, we object hat two independent first order processes (geminate and nongeminate recombinations) are responsible for the decay. A function with an integrated rate equation for second order nongeminate recombination plus a long background fits the decay well. The long background is considered to be for deeply trapped charges at the CdS particle.