Tuesday, February 10, 2004

The NASD has released figures for December for margin debt at clearing firms they oversee.  Debt has declined significantly from where it was in July, while free credit balances have not fallen nearly as much.  Looked at from a "net worth" perspective, these customers are in their best position in at least six years.  I will have more on this in tonight's comment. 2:25:38 PM

Nothing much going on so far this morning.  Our intraday indicators are back to neutral after becoming overbought late Monday afternoon and early Tuesday morning.  Right now they are consolidating the swings from oversold to overbought over the past week.  No solid edge in either direction right now that I see from my perspective. 10:05:25 AM