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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (3130)	5/5/2000 11:26:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 3339

All I can go is that at the end of April, as of April 28, mutual fund cash levels were lower than they had ever been, as a percentage of assets. Since the markets were lower, too, and since inflows had continued strong through the month, on average funds had put more money into the market than they took out. It would be interesting to know day-to-day fluctuations, but to collect this information from thousands of mutual funds would be hard and I don't know if anyone tries to do it. On the whole it appears that indvidual investors were more responsible for taking money out of the market--some of them forced to do so because of margin positions. I think that if the fund managers had panicked, we would still be in free-fall, as we will be when and if they do.