Now we are getting into the uh-oh region: NYSE Member Firm Margin Levels.
(See our prior discussion on what this may or may not mean here)
Bloomberg News has the details:
The amount of money borrowed from brokerages that do business on the New York Stock Exchange to buy stock rose 3.6 percent to a second straight monthly record, reaching $295.9 billion in February. Margin debt, as the borrowing is called, in January broke the prior high set at the peak of the so-called Internet bubble.
Changes in the level of margin debt have mirrored those of U.S. stock indexes. After setting an all-time high of $278.5 billion in March 2000, margin debt dropped to less than half that amount by September 2002. It reached $285.6 billion in January.
As I read the NYSE rules on this, I do not believe Shorts are included in this;
"Include only free credit balances in cash and margin accounts. Balances in short accounts and in Special Miscellaneous Accounts are not to be considered as free credit balances."
It's borrowed money - not margin data - that matters . . .
NYSE Margin Debt Advances 3.6 Percent to Second Straight Record
Bloomberg, 2007-03-19 14:39