Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Psycho-Social who wrote (25314)	1/29/2002 6:06:31 PM
From: t2	Read Replies (1) of 99280

I am suspecting that there were major outflows from this market today. Could be overseas investors pulling out but dollar stayed strong and so were the bonds...so that theory does not work. That only leaves domestic mutual fund outflows. The obvious answer could just be the incredible fear of holding on to questionable stocks by large institutions. After Enron, they don't want to take any chances. CNBC noted that TYC is a large holding with Fidelity and Janus and was well liked for a while given its mini GE image but better valuation. But that is not all they were dumping! Might be major housecleaning at some mutual funds. So what happened with the proceeds from the sales? Either outflows or they are looking to buy problem free stocks.

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