<p>This <em>is</em> so <strong>hard</strong>.</p>

<p>This <em>is</em> so <strong>hard</strong> too.</p>

<p><em>At</em> start
<em>At</em> start</p>

<p>At <em>end</em>
At <em>end</em></p>

<p><em>At</em> start
<em>At</em> start</p>

<p>At <em>end</em>
At <em>end</em></p>

<p>And <em>nest<strong>ed</strong></em>.</p>

<p>And <em>nest**ed</em>.</p>

<p>And *nest<strong>ed* like</strong> this.</p>

<p>And <em>not_nest_ed</em>.</p>

<p>And <strong><em>nested</em></strong>.</p>

<p>And <strong><em>nested</em></strong>.</p>

<p>And <strong>nest<em>e</em></strong>.</p>

<p>And lonely * here*.</p>

<p>And lonely ** here**.</p>

<p>And <strong>lonely ** here</strong>.</p>

<p>** and here**.</p>

<p>And <strong>compli*cated *</strong> here</p>

<p>Some<em>**what</em> more * <em>**he</em>re</p>

<p>Do it <em>*this*</em> way
Or this *<em>this</em>* way
Or that <em>*that</em>* way
Or that *<em>that*</em> way</p>

<p><a href="http://blah.com/blah_%28">http://blah.com/blah_%28</a></p>

<p><a href="A_-B">A-_B</a></p>

<ul>
  <li><em>test</em></li>
  <li>&#8216;<em>test</em>&#8217;</li>
  <li>&#8220;<em>test</em>&#8221;</li>
  <li>(&#8220;<em>test</em>&#8221;)</li>
  <li>(<em>test</em>)</li>
  <li>“<em>test</em>”</li>
  <li>`<em>test</em>&#8217;</li>
  <li>„<em>test</em>“</li>
</ul>