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An overnight rebound in Asian markets, where last week's troubles began, and a seemingly unshakable conviction among investors that they should buy on dips or market declines drove the widely watched Dow up 3. I did notice that the 64 area provided support back in March and May, which the bulls could use as an argument to buy on dips. David Shulman, chief investment strategist at Salomon Brothers, said "my sense is we are going to try to rally on Monday, because people have been conditioned to buy on dips," in stock prices. |
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