Thursday, March 12, 2009

$8.8 Billion Redeemed Week Ending March 11

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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Anonymous said...

Did someone say drugs?

Ed W/Honolulu said...


You wondered why TrimTabs' week ends on Wednesday. My guess is its the same reason why the Federal Reserve Banks' week ends on Wednesday. Now why the Fed's week ends on a Wed. is a mystery to me. I can tell you that in the early 80's when I was involved in the financial futures markets, we always ignored the fed funds rate on Wednesdays becuase it would gyrate wildly for the above reason.

BTW, WTF is up with that page to send you an email. It restricts emails to you to under 300 characters, Zoiks! yet it lets me post this much longer comment. F'd up logic IMHO.

Nice BLOG BTW, kudos!

Tyler Durden said...

i hear Sergei Brin is happy to accept constructive criticism of email textual limitations.

Ed W/Honolulu said...

I'll catch Serge next time he's out here kite surfing