Inflows and Outflows

[HenryTo]

A net outflow from domestic equity funds for the week ending Wednesday evening and much higher if you exclude domestic equity income funds. I think there is a high chance we have a ST bottom here.

The latest from amgdata.com:

* Equity funds report net cash inflows totaling $154 million in the week ended 4/20/05 with $184 million going to Non-domestic funds and

* Domestic funds reporting net cash outflows of -$30 million;
Largest Domestic Equity sector inflows are reported by Equity Income funds ($322 Mil);

*Largest fund group inflows were reported by the PIF funds ($1.2 Bil);

* Largest ETF inflows reported are:
$398 Mil to iShares S&P 500 Index fund;
$191 Mil to Select Sector SPDRs Financial fund;
$157 Mil to Select Sector SPDRs Energy fund;
$151 Mil to DJ Select Dividend Index fund;

* Largest ETF outflows reported are:
-$1.181 Bil from iShares Russell 2000 Index fund;
-$122 Mil from iShares MSCI Japan Index fund;

* Taxable Bond funds report net cash outflows totaling -$285 million with High Yield Corporate Bond funds reporting net outflows of -$679 million, the tenth straight week of outflows and the largest number of funds reporting net outflows from the sector (278) since 5/12/04;

* Treasury Bond fund inflows ($204 Mil) are due to ETF inflows:
$100 Mil to iShares Lehman 20+ Yr Treasury Bond fund;
$65 Mil to iShares Lehman 1-3 Yr Treasury Bond fund;
$26 Mil to iShares Lehman 7-10 Yr Treasury Bond fund;
$21 Mil to iShares Lehman TIPS Bond fund;

*Money Market Funds report net outflows of -$5.609 Bil with Tax-Exempt MM funds reporting net outflows of -$6.870 billion and Taxable MM funds reporting inflows of $1.261 billion;

* Municipal Bond funds report net cash outflows of -$234 million as High Yield Municipal Bond funds report net cash inflows of $82 million.

[nodoodahs]

http://www.insider-monitor.com/insider_sells_week_officer.html

http://www.insider-monitor.com/sellmonthofficer.html

Might help your research.
_________________
I haven’t seen a beatin’ like that since somebody stuck a banana in my pants and turned a monkey loose.

[HenryTo]

Paul - that's cool. Thanks for the heads up. I will probably do some independent research on it this week.

Hope you had a great weekend!

henry

[pcoulter]

Henry,
I searched for the article concerning insider selling, but didn't have any luck. I just remember reading about it on 2 different occasions from reliable sources.

Sorry.

[HenryTo]

Paul,

Haven't seen you here in awhile - nice to see you posting. Regarding margin debt, I tend to take the sum of the NYSE and NASD margin debt and then look at them in total. Check out the following link:

http://bigpicture.typepad.com/comments/2003/09/nasd_firm_margi.html

The following link also shows margin debt broken down into margin debt reported by NYSE clearing firms and NASD clearing firms. As you can see, margin debt reported by NASD clearing firms are substantially lower than those of the NYSE clearing firms:

http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&ssDocName=NASDW_005923

Can you also provide me a link to the insider selling that you discussed in your post? I haven't followed tech insider selling in awhile.

Thanks and have a good weekend!

Henry

[pcoulter]

Concerning the tech sector, insiders at the largest 10 Nasdaq companies are undertaking an unprecedented amount of selling. On top of this, margin debt on the Nasdaq is 17% higher than in 2000.

[HenryTo]

Nothing out of the ordinary this week, except for the fact that tech seems to be finally showing some signs of life. Of course, unless you are a contarian here (even though tech relative to inflows/outflows is very oversold):
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* Equity funds report net cash inflows totaling $1.402 billion in the week ended 6/1/05, with ETF inflows accounting for 75%;

* International funds report non-ETF inflows totaling $203 million to all Emerging markets as funds investing in Europe and Japan report outflows;

* Technology funds report net cash inflows for the second consecutive week, the first time since 11/17/04;

* Taxable Bond funds report net cash inflows totaling $1.502 billion with $976 million going to High Yield Corporate Bond funds, the largest inflow reported by that sector since 9/3/03;

* Money Market funds report net outflows of -$6.807 billion, as Taxable MM funds report outflows of -$8.178 billion and Tax-exempt MM funds report inflows of $1.371 billion;

* Municipal Bond funds report net cash inflows of $131 million, as High Yield Municipal Bond funds report net inflows of $139 million.

[HenryTo]

A decent amount of inflows this week - especially to domestic equity funds. From a contrarian standpoint, I think the bulls are still safe - for now.
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* Equity funds report net cash inflows totaling $3.060 billion in the week ended 5/25/05, with Domestic funds reporting 76% of the inflows ($2.3 Bil) and Non-domestic funds reporting 24% of the inflows ($743 Mil);

* Excluding ETF activity, Equity funds report net cash inflows totaling $993 million in the week ended 5/25/05, with Domestic funds reporting 38% of the inflows ($375 Mil) and Non-domestic funds reporting 62% of the inflows ($618 Mil);

* Including ETF activity, International Equity funds report inflows totaling $621 million to all Emerging and Developed regions but Europe;

* Taxable Bond funds report net cash outflows of-$81 million as inflows to Investment Grade Corporate Bond funds ($280 Mil), Balanced funds ($213 Mil), and International & Global Debt funds ($133 Mil) are offset by outflows from Treasury funds (-$450 Mil), High Yield Corporate Bond funds (-$226 Mil) and Government Bond funds investing in Mortgage-backed securities (-$141 Mil);

* Treasury fund outflows are due to outflows from three ETF funds:

* -$432 Mil from the iShares Lehman 20+ Yr Treasury Bond fund;
* -$41 Mil from the iShares Lehman 1-3 Yr Treasury Bond fund;
* -$17 Mil from the iShares Lehman 7-10 Yr Treasury Bond fund;

* Money Market funds report net cash inflows of $8.988 billion;
* Municipal Bond funds report net cash inflows totaling $210 million as High Yield Municipal Bond funds report net inflows of $186 million.

[HenryTo]

This is for the week ending May 18th - yes, that's right - retail investors are still very bearish even after three days of rallying in the major market indices. Looks like the intermediate bull trend is still intact given the following data:

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* Equity funds report net cash outflows totaling -$433 million, the largest net outflows since 1/5/05, with Domestic funds reporting outflows totaling -$851 million and Non-domestic funds reporting inflows of $418 million;

* International funds report inflows of $387 million to all Emerging and Developed regions but Latin America and Europe;

* Energy funds report net outflows of -$785 million, largely because of outflows from the Select Sector SPDRs Energy fund (-$738 Mil);

* Financial/Banking funds report net outflows of -$259 million, largely because of outflows from the Select Sector SPDRs Financial fund
(-$237 Mil);

* Taxable Bond funds report net cash outflows totaling -$267 million as High Yield Corporate Bond funds report the largest sector outflows (-$452 Mil) and International & Global Debt funds report the largest sector inflows ($138 Mil);

*Money Market funds report net inflows of $11.538 billion;

*Municipal Bond funds report net inflows totaling $196 million.

[HenryTo]

Again, the latest from Amgdata.com. Huge inflows going to the energy sector - even as I believe oil has definitely peaked in the intermediate term (next six months).
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Equity funds report net cash inflows totaling $4.441 billion in the week ended 5/11/05 with the largest inflows going to ETFs:

* $1.416 Bil to the Select Sector SPDRs Energy fund;
* $788 Mil to the iShares Russell 2000 Index fund;
* $343 Mil to the iShares MSCI EAFE Index fund;
* $188 Mil to the DJ US Real Estate Index fund;
* $168 Mil to the Select Sector SPDRs Financial fund;
* $153 Mil to the iShares MSCI Emerging Markets Index fund;

* Excluding ETF activity, Equity funds report net cash inflows totaling $785 million with $478 million (61%) going to Non-domestic Equity funds and $307 million (39%) going to Domestic Equity funds;

* International Equity funds report inflows totaling $910 million ($447 Mil xETF activity) with all sectors reporting inflows but Japan as the iShares

* MSCI Japan index funds reports outflows of -$106 million;

* Financial/Banking funds report net inflows of $143 million, with the most funds reporting inflows to the sector (36) since 2/2/05;

* Healthcare/Biotech funds report net inflows of $224 million, with more funds reporting inflows (73) and fewer funds reporting outflows (74) than any week since 7/7/04;

* Taxable Bond funds report net cash inflows totaling $122 million with outflows from High Yield Corporate Bond funds of -$404 million offset by inflows to Balanced funds ($245 Mil), Treasury funds ($194 Mil) and International & Global Debt funds ($129 Mil);

* Money Market funds report net outflows of $1.365 billion as inflows reported by Tax-exempt MM funds of $3.038 billion are mitigated by outflows from Taxable MM funds totaling $4.403 billion;

* Municipal Bond funds report net cash ouflows of -$50 million.

[HenryTo]

Latest from amgdata.com. Please note the second point - breadth statistics in terms of fund inflows/outflows are now at the worst since August/September of last year - right before a tradable low was hit.
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* Equity funds report net cash inflows totaling $1.065 billion in the week ended 5/4/05 with $819 million going to Non-domestic funds (77%) and $246 million going to Domestic funds (23%);

* Equity fund flow market breadth continues to deteriorate as 3435 funds report net inflows, the smallest number since 9/1/04 and 4161 report net outflows, the largest number since 8/11/04;

* International funds report net inflows of $768 million with Emerging Markets Equity funds reporting inflows ($53 Mil) as well as region-specific Latin America funds ($20 Mil);

* Energy funds report -$891 million outflows because of net outflows totaling -$898 million to the Select Sector SPDRs Energy fund;

* Healthcare/Biotech funds report inflows totaling $607 million, the largest inflow to that sector since 3/08/00, as inflows totaling $454 million (75%) are reported by three funds:
$154 Mil to the Jennison Health Sciences: Z fund;
$152 Mil to the Hartford Global Health Y fund;
$148 Mil to the Eaton Vance Worldwide Health Sciences A fund;

*Taxable Bond funds report net cash outflows of -$264 million, with High Yield Corporate Bond funds reporting the largest outflows of any bond sector (-$400 Mil);

* International & Global Debt funds report net cash inflows totaling $149 million;

* Money Market funds report net outflows of -$12.583 with -$16.106 billion coming from Taxable MM funds and Tax-exempt MM funds inflows of $3.523 billion;

* Municipal Bond funds report net cash inflows of $171 million as High Yield Municipal Bond funds report net inflows of $175 million.