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Buzz and Banter


Last week, I showed a chart of "available cash" in customer accounts at NASD member firms, which was updated through July. For figures just released, covering activity in August, total debit balances in margin accounts dropped by $8.4 Billion. Free cash balances dropped by $4.5 Billion. This leaves available cash at a robust $10.5 Billion, up from $6.6 Billion in July, and close to where it was in the Spring (see my previous article, linked above, for the chart). I don't think we can necessarily say that this is bullish, but at least it gives some perspective to the possibly overwrought concerns about those debit balances.
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