Markets get locked and especially have a floor to the downside when you have positioning so bearish. So that's the problem. We don't have earnings or at least we feel that we're in a corporate profits recession. What I think has to happen is you have to flush out the market. The only way you're going to do that is by going up, forcing everybody in and then resetting the market. That's what I think is the risk to the market. I think the risk is to the upside.

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