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Market slips back into correction

Today’s last hour sell off sent the rally attempt back into correction on fears that Europe economic problems would hurt recovery. The Dow slashed 115 points a day after it dropped 323 points on Friday. S&P500 is down 14 and Nasdaq which led the rally attempt a few days ago reduced by more than 2% and ended this rally attempt. Once again, it is wise to wait with buying new positions. I am staying in cash and waiting aside for the new rally.

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