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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Jorj X Mckie who wrote (53328)4/18/2002 7:49:38 PM
From: t2   of 99280
 
This is the weekly chart of the COMP going back 1 year. I have marked 5/2/01 on the chart where those large inflows were last year. Right near the top.

Don't those large inflows account for the spike on Tuesday? Doesn't it mean that there is that much less cash on the sidelines waiting to come into the office? Doesn't it mean that we now have to come up with another big inflow of cash to drive the next spike?

Could be.
But I would make the following argument as well. We are in the midst of a 2 year bear market on the Naz---no confirmation of a bull just yet. In that period money market assets have grown significantly and there is no relief for those wanting short term higher rates...greenspan is going to be patient about raising rates.

One other thing I would note that Microsoft with its huge cash position is also now looking for alternatives! MSFT deciding that keeping cash in short term funds is not a good idea.<g> They want to add risk to increase returns.

There are lots of inflows but there could be more as money gets shifted out of money markets. MSFT's decision might be a reflection of what top strategists may be thinking....and remember MSFT is a conservative company.

In that AMGDATA report, there were outflows from money market funds.

Like I stated in my earlier post, watch what happens after traders realize how much money was coming in...a few friday's ago, there was a big surge on the first signs of major inflows.

jmho
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