Markets to See Short Term Bounce But Risks Remain

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"Short term what we have done is to suggest to cover all short positions and get ready for a potential bounce in the market because of the incredible oversold conditions," Riccardo Ronco, technical analyst at Friedman, Billings, Ramsey International, Aviate Global LLP. "But the parallels between 2007 and 2008 are absolutely compelling for me," he added.

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