I would not get too hung up on the moves of the last 3 days. Monday was the huge Berkshire acquisition. Last 2 days have been China yuan devaluation. So event-driven moves mainly in large cap companies. The question is, can the U.S. fed really raise rates with the country already in deflation? Where's the inflation? U.S. CPI is down on the year and when July numbers come out it will be down again because of the drop in oil. With the devaluation of the yuan all of our China made crap is going to be cheaper as well, going forward. I'm not so sure its time to go into cash.
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