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Strategies & Market Trends : Moufassa's Lair

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To: DlphcOracl who wrote (5111)	2/19/2002 3:37:12 PM
From: DlphcOracl	Read Replies (1) of 13660

Brokers Breaking Down The Broker/Financials index (Amex $XBD) has blown through its 200-dma and is in free-fall. Trader on CNBC (Peter Henderson) made a good point -- he believes todays market decline is, in large part, due to extreme weakness in the financials. He cites: (1) selling of large block of Citicorp (C) by Warren Buffett, and (2) fears that Japanese banks are near collapse, with no measures announced by Koizumi during Bush's visit, as main factors traders are discussing.

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