One more day like yesterday and we’ll be in an official bear market. Doom and gloom seems to be perpetuating throughout Wall Street. The one good sign is that no one can figure out how anything good will happen. That leaves room for an upside surprise. So until we get surprised or people just give up it’s not going to be much fun.

If June felt particularly painful, that’s because it was the worst June on record for the Dow Jones since the great depression. Don’t forget to smile, the economy grew at a 1 percent annualized rate in the first quarter of 2008.

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Tags: Greg