As the stock market was climbing last week, the Bank of America Merrill Lynch (BAML) trade desk was noting an oddity: their clients were, again, net sellers of stock. For the tenth consecutive week they were sellers. And not just sellers, but big sellers, particularly last week, a new report from the bank points out. Amid the frenetic pace of selling, one client segment, pension funds, were the sole supporters of the stock market. BAML: Net sellers of stock show “still no confidence in rally,” as all sectors, sizes and investment products are unloved When a bank report is titled…
BAML: Clients Net Sellers Of Stocks During Rally
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.