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Investors Pulling Billions Out Of Mutual Funds, ETFs This Month
Published:
Wednesday, 9 Jan 2008 | 9:35 AM ET
Text Size 
By: Bob Pisani
Reporter
Reporter
A couple of quick notes:
1) TrimTabs notes that investors took $10 billion out of U.S. equity funds in the first four trading days of 2008, and an additional $12.1 billion out of U.S. equity ETFs. That is a lot. How much? The worst month for outflows was May of last year, when $8.4 billion was pulled out. That's $8.4 billion FOR THE WHOLE MONTH; $22.1 billion was taken out the first four days of 2008.
Of course, such extreme pessimism often indicates at least short-term trading bottoms.
2) All sorts of indicators of a technical sort have been going off in the last few days. Richard Russell at Dow Theory Letter told me this morning that a bear market was reconfirmed as the Dow Industrials broke below their November 21 lows. But there are others as well that have flashed sell signals.
Questions? Comments?
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- S&P 500 Down — But Not By Much
- EU Finance Ministers Won't Get Fooled Again
- Why Is Market So 'Tired' With Good News?
- What Exactly Have Greeks Agreed To?
- A Greek Deal, but What Is the Deal?
- No Greek Debt Deal? No Problem! (Maybe)
- Irish Finance Minister Causes Draghi's Worst Nightmare
- Caesars' Wild Open
- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts
Data is a real-time snapshot *Data is delayed at least 15 minutes
