I am not quite sure why TrimTabs' week ends on a Wednesday but lately few things surprise me. Regardless, the latest cash tracking data out of the company indicates that $8.8 billion was redeemed out of all equity mutual funds versus a revised outflow of $19.7 billion in the prior week, which by simple addition means that over $28 billion was redeemed in the past two weeks. The only inflow in the week occurred into US equity ETFs, while all other categories saw cash departures. Which means that either the market cheerleaders on CNBC are on drugs every time they pronounce how all the cash on the sidelines is just pouring into markets, or TrimTabs is using a congressional committee to "determine facts." Oue money is with the former, which again would imply the current rally is merely an exercise in short triggered stop losses.
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