Mom and Pops Scared

Investors withdrew $6.8 billion from equity mutual fund in the latest week according to ICI. It was the largest weekly outflow of the year. This helps explain why the market has been declining despite the fact that larger investors have been more sanguine. Yesterday's Investors Intelligence survey showed nearly 50% bulls. If larger investors joined mom and pops in their bearishness we might be able to get a decent rally.


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