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Sunday, August 7, 2011

Not sure why commentators are still bullish?

"U.S. equity futures plunged, signaling the market may extend its worst slump since the bull market began in 2009, while the dollar and oil slid as the loss of America’s top credit rating fueled concern the economic slowdown will worsen. New Zealand and Israeli stocks sank.
Futures on the Standard & Poor’s 500 Index expiring next month lost 2.6 percent to 1,166.60 at 7:22 a.m. in Tokyo following a two-week slump that dragged the gauge down 11 percent and erased its 2011 gain. The dollar lost 1 percent versus the Swiss franc and slipped at least 0.3 percent against the yen and Australian and New Zealand dollars. Oil sank 3.2 percent to $84.11 a barrel in electronic trading. Israel’s TA-25 Index plunged the most in almost 11 years today, with a 7 percent loss led by Discount Investment Corp."

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