I have to give kudos to one of my readers who said that it would likely retest it's lows. It's within about .50 of doing so.
The financial stocks are getting killed. We are witnessing a huge de-leveraging. TMA received a margin call. A Carlysle Group affiliate cannot make a margin call. These are the bodies that I expected to see sooner. I'm confident that we'll see more. In fact, we need to get this detritus out of the way before we can move confidently forward.
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