Considering that money is coming out of Europe since that zone is about to implode and money is being forced out of bonds, equities could run a while.

The capital flow is into equities since there are few options for a return.

I expect one more leg down, perhaps retesting/surpassing the lows of March and then it is off to the races for a number of years. The incoming Sovereign Debt crisis is going to force money from public to private.

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