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The Deer is back as Markets go 'Reality-On'

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This wasn't the worst plunge in the stock market so far this year ... It was the second-worst by a whisper. And just like that we are one third of the way down to Goldman's target. But everything is priced in?

It seems that between the realization that global growth may actually be slowing and the recognition that there is no-QE-without-a-crash, markets began to lose steam early on this morning. Then Goldman's timely note to short the market if you want Bernanke to act sent us over the edge as the S&P lost its upchannel and plunged.

The Dow is following a very worrisome pattern as it lost the second most points in the year. Gold fell notably as the USD surged to up almost 1% on the week. Gold's and USD's moves suggested further pain for the S&P as Treasuries stabilized at notably better levels and did not plunge on the day (though much of this is equities playing catch up to a longer-term dislocation) ...

(Read the full article in ZeroHedge.com)

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