Where did all the cash go?
The awesome chart below was created by Doug Short, reflecting that a "ton of cash has disappeared in investors pockets this past month!"
CLICK ON CHART TO ENLARGE
Negative Net Worth = "Free Credit Cash accounts (cash available to spend/invest quickly) minus Margin Debt." The chart Doug put together reflects a rapid decline in available cash/net worth this past month.
As you can see very few times has "Negative Net Worth" reached the current level over the past 13 years and each time it did, the S&P 500 was closer to a high than a low.
Will it be different this time?