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What is interesting to consider is how different the componants of financials indexes are from just a few months ago. With many of the majors "gone" as a % of the indexes, it will be that much harder to get them materially lower from here. XLF is down > 75 from the peak...the Nasdaq dropped 78% peak to trough. I can see a higher low forming.


Get out of the way....LIBOR moving up

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