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Larry Wachtel, market analyst with Prudential-Bache Securities, counsels investors not to panic and sell on emotion. "Two or three months down the line, we'll finally realize that the economy needs help. It is still floundering. It needs another interest-rate cut. Rates will come lower, and the market will begin to rise." But even he admits that the next few months will not be for the fainthearted. Says he: "If you can't stand the heat, get out of the kitchen." Or the market. Many investors started getting out last week, and the ones who did not could only grow more edgy all the time.
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