Disclosure: Personal views only. These are not investment recommendations.
Hedge funds and professional investors are getting dragged into this market by retail investors, which they hate. It’s why there is still so much bearishness or ‘neutralness’.
Professional investors see this rally as ‘understandable’, but mostly driven by retail tech trading.
PM’s aren’t buying it, which is the next leg to the trade.
Retail purchases of the Russell 2000 ETF
Retail purchases still not excessive.
Big retail flows into Apple after the VR headset announcement
But overall retail flows into Apple are still on the lows, despite the stock at all time highs.
Retail margin increasing off of low levels.
Meanwhile, professional portfolio managers are still ‘Neutral’…