From what I've heard,, the numbers are even worse now,
consumer savings have gone into the negative for the first time in history I believe..
consumer debt is at record levels..higher than spring
I believe margin debt is below what it was in springtime, although dangerously close... However, the caveat on margin debt, is that so many people are short the market...I have never seen so many people shorting with such abandon, and I bet there is more margin debt on the short side now than there was in springtime..
Unfortunately, I just looked at the committment of traders information, and the Large spec traders have just set another record for Net short positions on the S&P..rising to a net 90,000 contracts short... I do believe it's contracts these numbers refer too..although not sure..
All this info is off the top of my head from things I have read..
All in all, if we got some buying catalyst, the short covering could drive a huge rally.. but without any postive catalyst, the short money will keep compounding, and the market will continue to fall of its own weight..
If we don't get moving up tomorrow, I will likely close all longs..
Edit...been watching futures, and they are going in the tank with opening of asian markets... Maybe we will open down big and set up a nice S4DML to burn the shorts.. I will be looking for strength leading into FOMC meeting tomorrow
rok |
