On TSC, Dick Arms, Adam Oliensis and, to some extent, Helene Meisler are all pointing to their charts and saying that stocks have reached a level of extreme oversoldness, not seen since Adam Smith was a pup. They wouldn't be surprised by a rally of any duration.
Meanwhile, Cramer says we are in a deflationary downdraft, spiraling helplessly out of control toward the cold, cold ground. Mark Manning sees no bottom, despite looking for one really hard.
Doug Kass says buy C and put it in your old kit bag.
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