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Nuovo forumer
Da Alphaville, un blog del Financial Times, purtroppo a pagamento.
Given Monday’s mini flash crash in the SPY S&P 500 ETF — one of the most traded securities in the United States –we thought the following datapoint might be worth flagging up.
Via LPL Financial:
· This is the first time in twenty-five years that a three-month gain in the S&P 500 of 10% or more was not accompanied by net inflows into U.S. equity mutual funds and ETFs.
· While individuals may have overcome, to some degree, their distrust of the durability of the economic recovery and policymakers in Washington, they remain distrustful of the integrity of the U.S. stock market. $53 billion has come out of U.S. stock mutual funds since the “flash crash” of May 6, 2010.
· The structure and significant evolution of the U.S. stock market has pushed the U.S. stock market to fray at the edges. When pushed too hard, it can have a temporary breakdown.
· If the current buyers strike by individual investors turns into a permanent boycott, further gains may be hard to come by.
Of course, with a simple system upgrade at Arca supposedly being responsible for what was 9.6 per cent price plunge in one of the world’s most traded ETFs — the equivalent of wiping out some $7.9bn in value — it’s perhaps understandable why investors would feel a distrust in the integrity of the US stock market.
Either way, this is how the current flow/price move disconnect looks in chart form:
Mais oui. The market is going up while the money is coming out.
Which, of course, is anything but rationale.
Given Monday’s mini flash crash in the SPY S&P 500 ETF — one of the most traded securities in the United States –we thought the following datapoint might be worth flagging up.
Via LPL Financial:
· While individuals may have overcome, to some degree, their distrust of the durability of the economic recovery and policymakers in Washington, they remain distrustful of the integrity of the U.S. stock market. $53 billion has come out of U.S. stock mutual funds since the “flash crash” of May 6, 2010.
· The structure and significant evolution of the U.S. stock market has pushed the U.S. stock market to fray at the edges. When pushed too hard, it can have a temporary breakdown.
· If the current buyers strike by individual investors turns into a permanent boycott, further gains may be hard to come by.
Either way, this is how the current flow/price move disconnect looks in chart form:
Mais oui. The market is going up while the money is coming out.
Which, of course, is anything but rationale.
