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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (62607)	1/23/2007 2:23:29 PM
From: jimmg	Read Replies (1) \| Respond to of 116555

Margin debt is at all-time but so is free cash balance. That means that a hell of a lot of the margin debt is short selling on margin. Short interest has not come down significantly. It's back off very so slight from all-time highs. Over 400,000 contracts in the March xlf put options all in out of the money puts. This kind of wild downside speculation is very unlikely to get rewarded. The bears have not abandoned camp yet. Yes if you watch TV, the bulls sound brazen and the bears have gone into hibernation. That's not what the money flow says.