I spoke in my earlier note about margin debt data that came out for Feb 2011
Some more colour on that below -
MD as % of SPX Mkt Cap is near all time highs since the 60s but still below 2000 and 2007
Available Cash as % of SPX Mkt cap is -ve so investors have -ve net worth.
This is the 3rd lowest number on record since 1999.
The top 2 were in 2000 and 2007.
So we are getting there.
Some more colour on that below -
MD as % of SPX Mkt Cap is near all time highs since the 60s but still below 2000 and 2007
Available Cash as % of SPX Mkt cap is -ve so investors have -ve net worth.
This is the 3rd lowest number on record since 1999.
The top 2 were in 2000 and 2007.
So we are getting there.
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