I was not surprised by the market bounce we had yesterday, nor was I surprised to see the market decline again today (but a bit surprised by the intensity, I must admit), and I will explain why in this market update. The good news is that both the index and almost every stock are still higher than they were two days ago. But let me start by summarizing my current view: I believe we are in a painful bottoming process rather than at the beginning of what could morph into a bear market. If I am wrong, I strongly believe we will at least soon see a real relief rally. Here's why.
Why We Might Be About to Buy the Dip in the Market
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