Posts
The latest confirmation that there is nobody left in stocks save for hedge funds, HFTs (who do so at a comped exchange loss via liquidity rebates), and primary dealers, comes courtesy of UBS Client Flow research, which reports that, "long-only funds increased their net selling to levels last seen in October 2008."
Putting a number to this: the week outflows by long-only funds was $783 million in the week ended October 1. This is in addition to observations that retail flows are now a one way street away from stocks, and merely reinforces the threat that the hedge fund playground which is what the stock market is now exclusively, could plunge the moment there is coordinated selling and profit taking.
To use more graphic terms the entire theater is just full of hedge fund millionaires, where everyone owns the same stock (mostly Apple), there is only one open door, and the Fed keeps on pouring gasoline all over the place...
More on stocks:
This chart says the bear market could last for 6 more years
Wall Street's "smart money" is making a huge downside bet on stocks
This 70-year chart shows stocks are approaching a hugely important area
No comments:
Post a Comment