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1) my gut feeling a 10% correction would make more sense
2) in all prev five corrections, average 4bln foreign selling as per a UBS report. this time only 2.1bln sold.
anyway, do think market is still bullish.
1) banks are too large to fall (german gvnt alr stepped in)
2) even credit spread widens, a rate cut cld easily handle it. .
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Only the Strong Survive
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