• We got some more negative news out of China this morning.  It’s not just that the “known” problems are growing…it’s the fact that new ones keep popping up that worries us.  The term “contagion fear” tends to be thrown around too often, but it’s starting to become a legitimate fear with China.
  • The two-week drop in the stock market could see a relief bounce at any time…especially with stocks like AAPL getting oversold on a very-short-term basis.  However, with what’s going on in China…and bond yields at their 2023 highs…and earnings growth stalling out…it’s going to be tough for this (still) expensive stock market to avoid a further pullback.
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