Speculators rush into Risk by most since 2007


In the last two weeks we have pointed out that not only are equity futures traders the most net long in six years but NYSE Margin Debt is also near four year highs.

Add to this the fact that VIX futures are the most net short they have ever been - crushed by an all too visible hand - and it appears that equity market participants were critically unafraid of the fiscal cliff uncertainty.

What is even more concerning, at least for those who care to be modestly contrarian, is that the market appears to be running out of greater fools in every asset class as JPMorgan's speculative position indicator - which combines net positioning across 8 'risky' and 7 'safe' assets - is at its most risk-on since just before the crash began in Q3 2007.

(Read the full article at ZeroHedge.com)