AMG Data

[HenryTo]

Retail investors getting pretty bearish here. And the fact that the Bank Index is holding up despite huge outflows from the financial and banking funds is an encouraging sign for the bulls:
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From www.amgdata.com - Fund flows and holdings for the seven days ending April 27, 2005:

* Equity funds report net cash outflows totaling -$130 million in the week ended 4/27/05 with $597 million coming from Domestic funds and net inflows of $467 million going to Non-domestic funds;

* Domestic Equity fund net outflows were reported by 3485 share classes, the largest number of share classes reporting outflows from that sector since the week ended 9/29/04;

* Large outflows are reported by Financial/Banking funds (-$458 Mil) because of outflows reported by the Select Sector SPDRs Financial fund (-$423 Mil) and Utility funds (-$137 Mil) because of outflows reported by the Select Sector SPDRs Utility fund (-$134 Mil);

* Taxable Bond funds report net cash outflows totaling -$310 million with outflows by Government Bond funds investing in Mortgage-backed securities (-$254 Mil) and High Yield Corporate Bond funds
(-$228 Mil) offsetting net inflows to Flexible funds ($178 Mil);

* Money Market funds report net outflows totaling -$13.343 million; Municipal Bond funds report net cash inflows of $37 million as High Yield Municipal Bond funds report net inflows of $111 million.