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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

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Nov 17 4:00 PM EST

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To: Matthew L. Jones who wrote (31216)	10/25/1999 12:16:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Matt, you forget that the article referred to the absolute level of margin debt in dollars...not the relative level in relation to the value of investors' portfolios. margin debt is now at a record high not only in absolute terms but also as a percentage of GDP. it's just another sign of the incredible complacency that seems to reign. regards, hb

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