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Wednesday, August 19, 2009

It's Official: CHINA in a Bear Market

*official by US standards that is. Shanghai index dropped 20%. That makes it a bear market. And how is that affecting other markets? Down Baby Down. S&P futures mini are down 11.9%. Expect a sell off early then a holding pattern of boredom. We'll see by end of the day if these gangsters are going to jump in and save the day by buying up the banks so keep your eyes on WFC and IWM.

*fear not: Bob Doll from Blackrock says recession is over but we will have these aftershocks. And Cramer last night said Bears are swept aside again, investors rule. IJIOTs

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