Victor Adair

Senior Vice President and Derivatives Portfolio Manager

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The free-fall in oil prices…WTI down $50 (47%) since June…hit Market Psychology HARD last week…risk aversion soared…credit spreads widened with a vengeance…Treasury yields fell to near All Time Lows…credit risk inspired contagion hit all asset classes…the DJIA…which had closed at a Record All Time High Friday Dec 4…fell 680 pts (3.7%)…creating a Classic Key Reversal Down…closing lower than all

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