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Need to Know: Stay bearish because the ‘Big Low’ for stocks hasn’t arrived yet, says Bank of America

For investors, it may be a case of nowhere to run, nowhere to hide.

So says CNBC’s “Mad Money” host Jim Cramer, who warned Monday of a very “serious correction” in a day that saw the Dow skid 600 points on a retreat for oil and a firmer dollar, and mega-stock Apple AAPL, -0.48% (TICKER: AAPL) got the cheese touch

But while dip-buying appetite appears to have stirred a bit in the wake of that action, note that oil is under pressure again as investors entertaining the possibility that October’s volatility was not a one-off.

Echoes of that last bit can be found in our call of the day, from Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch, who advises a cautious approach because he doesn’t think stocks have touched bottom.

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