Play Editor's note: We are wary of the markets right here. Stocks turned in some very big returns in the second quarter and we don't see the motivating factor to buy them now, especially with the yield on the ten-year bond above 5%. The second quarter earnings results might offer some hope but then again companies will be issuing guidance for the third quarter, which is typically the weakest quarter of the year. At this point, we haven't read the weekend market wrap yet, but our bias is turning bearish. However, the breakout in crude oil re-affirms our bullish bias for energy stocks.
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