Markets to See Short Term Bounce But Risks Remain

11:40 AM ET Wed, 17 Aug 2011

"Short term what we have done is to suggest to cover all short positions and get ready for a potential bounce in the market because of the incredible oversold conditions," Riccardo Ronco, technical analyst at Aviate Global. "But the parallels between 2007 and 2008 are absolutely compelling for me," he added.