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Tough times still lie ahead for US equities (Feb 10)

The US stock market recovered in February after a shaky start to the year. We would not be surprised if it edged up a little more in the near term. However, we do not think the rebound ushers in the beginning of a new bull market. In fact, we still think the S&P 500 will end 2010 lower than it is now.

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