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And now for the bullish case.
Barclays Capital’s Barry Knapp put out a note Friday afternoon urging clients to buy stocks. In between his note and this morning’s opening bell, a few market game-changers hit the tape, but Mr. Knapp is sticking to his guns — it’s time to buy, he says. A few wire-length snippets:
Over at JP Morgan, Thomas Lee is singing a similar tune. Here are his talking points:
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shut up you JPMorgan…. “historically…..”. US is downgraded first time. where is the history? If you are comparing to other countries, its totally different – US$ is reserve currency, US debt is the most in world markets….. go back to school my friend or is it that JPMorgan wants to unload their last left proprietary trading lots on us??????
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U.S. regulators, intensifying their probe of last year's "flash crash" and other market swings, have sent subpoenas to firms that do high-frequency trading.
MarketBeat looks under the hood of Wall Street each day, finding market-moving news, analyzing trends and highlighting noteworthy commentary from the best blogs and research. MarketBeat is updated frequently throughout the day, helping investors stay on top of what's happening in the markets. MarketBeat lead writer Mark Gongloff spearheads the MarketBeat team, with contributions from other Journal reporters and editors. Have a comment? Write to marketbeat@wsj.com or write Mark at mark.gongloff@wsj.com.
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