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Flow of Funds Report

Elmwood Data's picture
Submitted by Elmwood Data on 02/22/2012 10:42 -0400



 

 

Here is a good chart showing data from the weekly mutual fund flow of funds report.   This series is using the domestic equity only data.   In the first chart, we have plotted the flow of funds in it’s raw form.    Though there has been a small recent uptick in funds coming in, note the strong consistent negative flow over the last couple of years.
  
In the next chart, we've compared this data vs. the S&P (black line) and then converted the flow of funds data into a 30 (blue line) and 90 (red line) day simple moving average (SMA).  It seems clear that when the 30 day SMA spikes above/below the 90 day SMA, it often marks at least a short term top or bottom.   Look at the most recent spike here.  In other words, in the short term, there is just too much money chasing this market.
 
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Wed, 02/22/2012 - 18:03 | 2186556 JohnKozac
JohnKozac's picture

MF Global fiasco should have taught investors about funds.

Wed, 02/22/2012 - 15:18 | 2185812 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Yes, all of that capital which should be invested into productive things is being used at an electronic casino. Excellent idea! Thank you Bernanke.

/sarcasm

 

Wed, 02/22/2012 - 13:16 | 2185259 Schmuck Raker
Schmuck Raker's picture

I think the conclusion is correct, but the correlation -"It seems clear that when the 30 day SMA spikes above/below the 90 day SMA, it often marks at least a short term top or bottom." - seems rather weak.

Wed, 02/22/2012 - 12:25 | 2185061 JW n FL
JW n FL's picture

 

 

In other words, in the short term, there is just too much money chasing this market.

Good Call!

I would Love to see more from these guys!

 

Wed, 02/22/2012 - 13:56 | 2184949 Manthong
Manthong's picture

 "there is just too much money chasing this market"

I'm wondering if this isn't the first sign of hyperinflation.. to the broader populace, it's the only refuge..

                       until it isn't.

And, I'll wager that within a modest number of weeks one on the most frequently used phrases on the news will be

                       " (x.x) trillions of dollars of wealth wiped out."  

 

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