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Thursday: A Day of Relief?

Posted on September 19, 2008

In some respects, Thursday was an historic day. I could write many words about how it unfolded, but I think you will get a better sense of its roller coaster session if I use several charts. Therefore, I have included the graphs below to illustrate my points for Thursday's market. The first chart is of the Bank Index [BKX] that investors follow. Yesterday morning, the financials were under pressure again. The shorts were gunning for Goldman (GS) and Morgan (MS), as well as driving stocks like Citigroup (C) to new lows....

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lows , new lows