---Just because the banking system is in better shape than it was in 2008…does not mean that a “Lehman moment” won’t have a very negative impact on many financial stocks…and on the broad stock market.

---The market is oversold, and sentiment is extremely negative, so a bounce…even a sharp one…could happen at any time.

---However, we see lower-lows before the ultimate bottom is reached for this bear market…as the stock market has not fully priced-in a recession.

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