Highest Margin Leverage Since 1929
From Streettalk Off The Street
January 24, 2013 - 9:15am
STOCK TRADERS ALMANAC
January 24, 2012
By: Jeffrey A. Hirsch
Our old pal Alan Newman’s January 21 issue of Crosscurrents , entitled “Record Leverage, Record Insanity,” is packed with the usual juicy data and is as salient and succinct as ever. With the market stampeding higher to ever more overbought levels and sentiment readings at dangerously high levels Alan’s recent analysis and commentary is rather timely.
Though many have labeled him a “perma bear,” his bullish market calls and bearish calls have been equally accurate and prescient. You can check them out on his website ( http://cross-currents.net ). Here are some highlights, or lowlights depending how you look at it, from the current issue.
“Margin Leverage closed 2012 at the highest level vs. Total Stock Market Capitalization in 83 years. Is Amazon the new Apple? Strong sell recommendations have been outlawed!” ...Continue reading this article »