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May 22, 2012

Stocks erased most of their gains to finish flat Tuesday following reports that former Greek Prime Minister Lucas Papademos said preparations for Greece's exit from the euro zone are being considered. “We’re swamped by all these headlines,” said Brian Battle, vice president of trading at Performance trust Capital Partners of the day’s choppiness. “The technical argument is that we’re due for a rally, but fundamentally our stocks are still overvalued…it’s hard to imagine that stocks can really go up in this environment at all.”

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