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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (40656)	6/19/2000 5:20:00 PM
From: Ilaine	Read Replies (2) \| Respond to of 42523

Interesting observations in the June 12, 2000 weekly TrimTabs report - - Inflows for the week ending June 9, 2000 totalled $28.4 billion, a new record. So much for the demise of the bull market. - The key event triggering the NASDAQ collapse was $85 billion in capital gains taxes due 4/17/00. TrimTabs estimates that IRS was probably owed over $100 billion in both capital gains and underreported gains due to stock market profits. TrimTabs believes that investors stayed in the market until the last minute hoping to use the tax money to make more money until the moment they wrote the check. - The rising Euro is triggering foreign selling of US stocks. - Insider selling for May estimated at $10 billion vs. $6.5 billion in April and $22 billion in February. They didn't give the March data, I may have it saved on my computer at home. - Margin debt also plunged in April and May. In early April, margin debt was up $100 billion from its level in November. Probably $30 billion of margin debt was wiped out in April. Those that survived the margin calls in April and tax selling had to face another wave of margin calls in May. Many day traders are wiped out. What is powering the market now is the mutual funds which are sitting on lots of cash and are now buying big, liquid stocks, avoiding the illiquid stocks that day traders like. Huge inflows to equity mutual funds says that individuals are still very bullish. That's the report from TrimTabs. Caveat, it's dated last week. I wish I had a spare $24,000 lying around so I could get it on time, but I don't.:)