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MishTalk/Mike Shedlock/12-13-2021
“Margin is a coincident indicator of sentiment towards speculation in financial and real assets.”
USAGOLD note: We alluded to the heavy margin debt load in Tuesday’s Daily Market Report. Leverage begets forced selling in a downturn which can exacerbate the trend. Also, as Shedlock points out, when it turns, it could be reflecting an important change in sentiment that feeds off itself.
Sources: St. Louis Federal Reserve [FRED], Board of Governors Federal Reserve
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