Fear Reigns On The Floor

The buy-on-dips strategy, the only one you needed to know for this decade, finally failed last week. Investors, including many pros like me, had grown used to taking advantage of every substantial decline in their favorite stocks, but now find themselves deluged with more shares than they can carry in a truck. Why didn't the dip turn back up this time? It certainly had nothing to do with the U.S. Every new economic indicator, from employment to wages, came in stronger than expected last week. But we're now in a market where losses in Russia get translated into margin calls in...

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