Stock Market Smart Money is Quietly Getting Out of DodgeStock-Markets / Stock Markets 2016 Mar 10, 2016 - 09:36 AM GMT
It appears that SPX may close between 1894.35 and 1992.69 as an “inside day.” This denotes uncertainty in the market. However, there is no uncertainty. This is the best it can do to prevent an all-out collapse.
ZeroHedge comments, “One week ago, when looking at the latest BofA client flow trend monitor, we noticed something strange: despite the S&P's surge higher due to either a record short squeeze or because it is merely another bear market rally, the smart money was selling.
In fact, as BofA's Jill Hall calculated, the three groups that make up the so-called "smart money" basket, hedge funds, BofA's institutional clients as well its private clients, had been selling aggressively every week for the prior five. As she explained on March 1, "last week, during which the S&P 500 climbed 1.6%, BofAML clients were net sellers of US stocks for the fifth consecutive week, in the amount of $1.5bn. This was the biggest weekly outflow since mid-December." Someone clearly was very grateful for the selling opportunity that this squeeze was providing.”
Grateful may be the word, but these “flat” days cannot last.
Hang in there!
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