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'Stealth correction' could cause quite a stock market ride

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Talk about your market roller coaster rides.

Piper Jaffray, arguably the most bullish firm on Wall Street, is warning investors that a steep slide is coming in stocks, followed by a huge push higher.

A "stealth correction" is the culprit for the likely stomach-churning swing ahead, the firm argued in a report for clients Monday. Because the market has yet to endure the major 10 percent or better—the widely accepted definition of an official correction—investors may have gotten too complacent about the market's near-term strength.