Stocks like US Steel (X), which has fallen over 30% since its February high will bounce back with force, while gold and silver miners will track the metals to new highs.

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The driving force of a Starbucks bounce-back will have to come from resurgence in same-store domestic sales since surveys show that many European coffee drinkers remain resistant to the Seattle-based juggernaut.

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California will bounce back from its current malaise: its industries and its labour force are too strong for it not to.

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But after a one-day bounce failed to bring buyers off the sidelines, the sellers were back in force, taking FB down to new, all-time lows ahead of the Labor Day weekend.

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