Financials SPDR (XLF) Drops Below 10.00

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Financials SPDR (XLF) Drops Below 10.00

By Bill Luby on January 15, 2009 | More Posts By Bill Luby | Author's Website

XLF (XLF), the widely-followed financial sector ETF, dropped below 10.00 a few minutes ago for only the third day in its trading history.

Not only have financials been the weakest sector of 2009 so far, but their continued weakness will only raise more concerns about the structural integrity of the financial system.

Given the weakness in financials, I am surprised equities are not lower and VIX (^VIX) higher at this stage.

[source: International Securities Exchange]

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