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Investors Withdraw Most From Domestic Equities Since The Flash Crash

Tyler Durden's picture


The ICI fund flow data is out and it is ugly: in the past week, investors pulled money from every single strategy for a total outflow of $10.4 billion. As usual the biggest drop was in domestic equities, which saw $8.76 billion in withdrawals, the largest since the Flash Crash when investors yanked $13.4 billion. This is the 15th consecutive week of outflows, and brings the year's total cumulative outflow to $50 billion. Add to this the $98 billion in withdrawals in 2010 and one can see why the mutual fund ponzi, which is already facing record low cash levels, is desperately relying on further stock appreciation as any additional capital withdrawals will result in a toxic downward spiral of selling. Because should the cash balance of about 3% of assets be used up, there will be no other way to satisfy redemption requests than with accelerated selling. In other news, taxable bond funds saw $67 million in withdrawals, a very rare outflow from fixed income, while muni funds saw $147 million in outflows.

Whatever you do on the chart below, do not notice the glaring head and shoulders formation:


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Wed, 08/03/2011 - 15:43 | 1521728 FoieGras
FoieGras's picture

First flash crash? What's the second?

Wed, 08/03/2011 - 16:01 | 1521790 Dr. Richard Head
Dr. Richard Head's picture

Don't worry, it's coming -

Wed, 08/03/2011 - 16:10 | 1521821 MarketTruth
MarketTruth's picture

Run To The Hills...

Seriously, watch the video for MIL takeover, etc.

Wed, 08/03/2011 - 16:21 | 1521871 Dr. Richard Head
Dr. Richard Head's picture


I do realize my post was a bit OT, but the paper playland is a sandbox I don't want to play in any more.  I traded in my pale for buried treasure.

Wed, 08/03/2011 - 23:32 | 1522856 mason5566
mason5566's picture

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Wed, 08/03/2011 - 15:44 | 1521731 HelluvaEngineer
HelluvaEngineer's picture

go long, bitchez

Wed, 08/03/2011 - 16:26 | 1521887 spiral_eyes
spiral_eyes's picture

bullish for netflix

Wed, 08/03/2011 - 16:30 | 1521910 rocker
rocker's picture

Not to Worry. Robo is buying all they are selling. LOL on that and what happens when Robo runs out of money.

Afterall, Financials look so strong.  I guess I will stick with my PMs. They look so weak. LOL again.

Wed, 08/03/2011 - 15:45 | 1521732 RobotTrader
RobotTrader's picture




WTF did they do with all that money?

They must have opened E-Trade accounts and bought stocks like MA, up $39 today.

Or maybe they got fed up with Wall St. and opened up offshore betting accounts now that the NFL lockout has ended.

Wed, 08/03/2011 - 15:48 | 1521739 tmosley
tmosley's picture

Does RT even know what an "equity" is?

I guess the above post just answered that question.

Wed, 08/03/2011 - 16:45 | 1521941 rocker
rocker's picture

Sure Robo does. I like to listen to the logic and follow.

Does anybody remember when Robo said CMA looked real strong. Reality Time. 

Well it just came off the 52 week low list. So much for real financial fundamentals. LOL


Wed, 08/03/2011 - 15:53 | 1521745 SheepDog-One
SheepDog-One's picture

Maybe they bought more gold as you now claim to have been doing while mocking it for the last year. You clown.

Wed, 08/03/2011 - 15:55 | 1521759 Vic Vinegar
Vic Vinegar's picture

Changed my red to a green for your improved comment.

Wed, 08/03/2011 - 15:59 | 1521781 SheepDog-One
SheepDog-One's picture

Roger that.

Wed, 08/03/2011 - 15:53 | 1521753 Sudden Debt
Sudden Debt's picture

I'm thinking this RB is a spambot. My junkmail folder is filled with crappy stuff like your posts.


Wed, 08/03/2011 - 16:29 | 1521896 spiral_eyes
spiral_eyes's picture

i think he's porter stansberry

Wed, 08/03/2011 - 16:11 | 1521834 papaswamp
papaswamp's picture

Come on people...Robo is drooling since QE3 is right around the corner.

Wed, 08/03/2011 - 23:00 | 1522784 dwdollar
dwdollar's picture

Or maybe (and most likely) they used it to survive.  Like you know, buy foodstuffs.  Do you buy foodstuffs?  Or is it your mom?

Wed, 08/03/2011 - 15:46 | 1521735 AbandonShip
AbandonShip's picture

I was one of them.  Couldn't trust the pols to do the right thing.  Glad I got my green toilet paper for now.

Wed, 08/03/2011 - 15:48 | 1521742 scatterbrains
scatterbrains's picture

yea don't even bring the subject up.. last time the msm pumped the head and shoulders pattern it failed. I havn't heard anyone speak of this one much, at least on bloomberg. Is this one going unnoticed? I don't even tune in to cnbc.. are they talking about it there ?

Wed, 08/03/2011 - 15:56 | 1521770 SheepDog-One
SheepDog-One's picture

No CNBC is showing recommended Tiffany gifts fund traders can give to their $5,000 per hour hookers, the CNBC ladies seem to love the silver coke straw and 8 gram storage bottle.

Wed, 08/03/2011 - 16:17 | 1521853 Instant Wealth
Instant Wealth's picture

*thumbs up*

Wed, 08/03/2011 - 16:26 | 1521890 Instant Wealth
Instant Wealth's picture

I look forward to the day when one of those where-is-the-smart-money-divas starts nosebleeding live on TV.

Wed, 08/03/2011 - 17:37 | 1522105 rosiescenario
rosiescenario's picture

Crows, too, are attracted to bright shiny objects.

Wed, 08/03/2011 - 15:50 | 1521744 Cassandra Syndrome
Cassandra Syndrome's picture

For QE3 certainty, would Skynet not want a 9th day in the red?

Wed, 08/03/2011 - 16:10 | 1521826 MichaelG
MichaelG's picture

HAL will probably wait until Fisher or someone suggests further easing may just possibly not be the way forward before hammering it down, just so there's no ambiguity to Ben's instructions:

1 Hold CTRL
2 Press P

Wed, 08/03/2011 - 15:54 | 1521754 RobotTrader
RobotTrader's picture




Widest TICK point spread in history.$TICK&p=D&yr=0&mn=6&dy=0&id=p37322057532

Everybody who panicked out this morning had to buy everything back.

Wed, 08/03/2011 - 19:18 | 1522298 sellstop
sellstop's picture

They don't buy stuff back so soon. It's the pride thing...


Wed, 08/03/2011 - 15:54 | 1521755 Careless Whisper
Careless Whisper's picture

Mid-Day Careless Whisper Report

Fat Larry Says 33% Chance Of Recession

Ron Paul Introduces Bill To Cancel $1.6 Trillion Bonds Created Out Of Thin Air Held By Federal Reserve

America's Most Hated Not-Guilty Person Spotted In Ohio


Wed, 08/03/2011 - 15:54 | 1521756 random shots
random shots's picture

Just proves investors get it wrrong...buying at the peak and selling at the bottom.

Wed, 08/03/2011 - 15:56 | 1521757 Leo Kolivakis
Leo Kolivakis's picture

Hope you bought that dip like I told you to and get ready for some rock 'n roll action during this hot, hot, hot summer!

LONG: JNPR, JDSU, DQ, EMKR, LVLT, SATC, and a few others...

Wed, 08/03/2011 - 16:01 | 1521785 SheepDog-One
SheepDog-One's picture

LOL, Leo goes all-in for the .com bubble era bottom bouncers. Whatever.

Wed, 08/03/2011 - 16:00 | 1521787 TruthInSunshine
TruthInSunshine's picture

Leo K has killed it in Chinese solars while bitching that the government can't/should never/would never dare cut the pensions of government parasites.

Wed, 08/03/2011 - 16:02 | 1521793 all_in_now
all_in_now's picture

Leo, Two thumbs up for the girl, thumgs up your ass for your comment

Wed, 08/03/2011 - 17:42 | 1522117 rosiescenario
rosiescenario's picture

Good choice of bikes...but is that a lady-boy???

Wed, 08/03/2011 - 19:17 | 1522292 sellstop
sellstop's picture

Way to go Leo. Get those ratings up! Or something up...

I also put on some longs today. Except for that gold short....

Nice bike!


Wed, 08/03/2011 - 15:55 | 1521758 Leo Kolivakis
Leo Kolivakis's picture


Wed, 08/03/2011 - 15:55 | 1521761 treemagnet
treemagnet's picture

Yeah, whatever....anybody know where I can score some wings and beer - maybe watch 13 games at once, you know - the important shit in life.

Wed, 08/03/2011 - 15:55 | 1521762 Lord Maximus
Lord Maximus's picture

End of day Melt-UP?!?!?!?



YEAAAAHHH...Recovery Summer is finally here!!!

Wed, 08/03/2011 - 15:56 | 1521763 TruthInSunshine
TruthInSunshine's picture

08-03 15:53: JP Morgan Chase cuts US Q3 GDP forecast to 1.5% from 2.5%


Oh yeah, JP Morgan wants more QE, bitchez, and they claim they want a strong dollar, too, as they bitch at Timmayyy Jeethner.

JPM owns this country. Bernank is Jamie Dimon's personal ball washer.

Hilarity ensues.

Wed, 08/03/2011 - 15:56 | 1521764 espirit
espirit's picture

Head, shoulders, shampoo - repeat.

Uh. I forgot haircut.

Wed, 08/03/2011 - 15:56 | 1521767 Cdad
Cdad's picture

Average Joe...selling strength and kickin' ass.  You have to love it.


Wed, 08/03/2011 - 15:58 | 1521776 Robslob
Robslob's picture

Now that all the lemmings are out of the way it may be time to buy something...decisions decisions...


OK...I am going to buy...........



Wed, 08/03/2011 - 16:13 | 1521842 tsx500
tsx500's picture


Wed, 08/03/2011 - 15:58 | 1521777 RobotTrader
RobotTrader's picture



"Once In A Lifetime" reversals on many stocks today, today may be the start of the "Weimar Rally", especially if the CRB index takes off from this level.

It never really sold off, even though crude was hammered.

Wed, 08/03/2011 - 16:04 | 1521799 SheepDog-One
SheepDog-One's picture

Yea Robo and I distinctly remember a post a couple weeks ago from you that you put up on some other board telling people you better be all in at 12,700 level.

Another day, another new reality for Robo who changes his market strategy and position more frequently than a teenage girl changes outfits.

Wed, 08/03/2011 - 19:14 | 1522288 sellstop
sellstop's picture

When the facts change, I change my mind like the Robo.

I probably shouldn't though. Thats probably why I'm only up 17% this year to date.

I'm such a loser. LOL


Wed, 08/03/2011 - 16:50 | 1521956 Cdad
Cdad's picture


About the CRB...apparently you are not looking at the earnings reports coming out of key commodity players.  Take a look at WLT's report just out tonight.  Look at the steel companies...especially CLFs report.  ANR is up tomorrow, and I'm thinking it will also be bleak.

So I don't get the super bullishness regarding commodities just for the special, super shinny ones, of course.

But whatever...


Wed, 08/03/2011 - 15:59 | 1521779 Dr. Engali
Dr. Engali's picture

They are taking all that money and buying silver and gold.

Wed, 08/03/2011 - 16:01 | 1521788 Smiddywesson
Smiddywesson's picture

The crash is nearing and everyone can feel it.

Also, my guess is mom and pop are out of money due to the job market.  They are draining everything to keep the house running, even dipping into 401ks and paying tax penalties to make ends meet.

Wed, 08/03/2011 - 16:16 | 1521850 papaswamp
papaswamp's picture

It will get delayed as QE3 kicks in same time as last year. Knowing that it is coming will ramp up the markets. It's the $12 a package of bacon that is going to really piss me off.

Wed, 08/03/2011 - 19:47 | 1522370 Kali
Kali's picture

Coversation overheard at the sushi bar at lunch today.  2 local Housing Authority Maintenance guys, @40-50ish in age,  on lunch break.  The city gov people in this city have stellar health, retirement and pay, ya know, all the good gov job shit.  One is saying to other, "we have been spending our savings to get the bills paid.  I don't know how much longer we can do that."  WTF?  I would love to see that household budget.

Thu, 08/04/2011 - 00:30 | 1522962 Founders Keeper
Founders Keeper's picture

[Coversation overheard at the sushi bar at lunch today.]---Kali

Hi Kali.  Thanks for posting.  I like man-on-the-street stories.

Here's a piece I'll call:


My roof repair salesman says, "So, your insurance co. will mail you a check for this amount initially(70% of the job).  They then release the remaining money upon completion of the job.  When you get the first insurance check call us, we will order the materials.  Now, are you current on your mortgage?"

"Yes.  Why?"

"Because the bank will take the check if you're in foreclosure.  OK.  Now, are you sure you want to fix the roof?"

"Yes.  Why?"

He explained, "Because many home owners receive the initial insurance check, cash it, and then cancel the roofing job.  Times are tough."

"Is that happening a lot?"

"You'd be surprised."

(Incidentally, my insurance appraiser asked me the SAME questions.)


Wed, 08/03/2011 - 16:10 | 1521829 adr
adr's picture

You can't fight this market. There are too many computers protecting it from a complete crash. It doesn't matter how many people issue sell orders there will be just as many or more computers programmed to buy, buy, buy.

Based on every economic indicator the Dow should already be down to 8000 but it still stubbornly clings to its bubble valuation. The Nasdaq hasn't traded with any credibility for years. Look at the end close today. That f'ker was down to 2621 and it is closing at 2694!!! The Dow was at 11,700 and it closed at 11,895 up frickin 30 points on nothing but bad news all day.

Nearly every momo stock finished in the green: Buffalo Wings up $1.43, Chipotle up $5.50, Priceline up $1.76, Netflix up $2.86, F'n Crocs up, Lulu up $0.94, LINKED IN UP $4.18!!!!!!!! WTF ZILLOW UP $1.15!!!!!!

THIS MARKET WON'T BE TAKEN DOWN NO MATTER WHAT!!! Go long on every single 100 P/E stock. It is completely wrong to do so but in today's F'd up world everything wrong is right.

GO PPT GO PPT GO, When panic's on the scene the PPT makes sure that screen goes green!!! When the outlook looks dire the PPTs there to put out the fire!!!! Don't spout the rules when Cramer's mouths full of drool!!!

Wed, 08/03/2011 - 16:27 | 1521884 mmlevine
mmlevine's picture

Aren't the computers programmed to SELL, SELL, SELL as well?  EDIT:  There was a time when you had a brain and some capital and you could legitimately trade a market.  Not today.

I for one and tired of losing going short only to be screwed day in and day out.

Wed, 08/03/2011 - 16:52 | 1521960 buzzsaw99
buzzsaw99's picture

Aren't the computers programmed to SELL, SELL, SELL as well?


Yes. They swim in the dark pools and sell to the bernank.

Wed, 08/03/2011 - 16:17 | 1521855 max2205
max2205's picture

That'll make it easier for Ben to run this bitch back to the highs and beyond

Wed, 08/03/2011 - 16:29 | 1521898 PulauHantu29
PulauHantu29's picture

Why do they call it an "equity."

Shouldn't the lack of shareholder power be called an "in-equity?"

Wed, 08/03/2011 - 16:29 | 1521904 buzzsaw99
buzzsaw99's picture

Sold to the fed, aka jpm.

Wed, 08/03/2011 - 19:11 | 1522274 sellstop
sellstop's picture

That's not a head and shoulders formation. It is a channel formation. And even if you want to call it a head and shoulders, notice that the right side neckline is higher than the left side. But the head is not significantly higher than the shoulders.

Today was a key reversal tho.... If you are into the technical things.


Wed, 08/03/2011 - 21:19 | 1522569 CustomersMan
CustomersMan's picture


   In certain cases, mutual funds can freeze or extend redemptions. This happened in 1987 and people were shocked to learn the fact and read the fine print in the prospectus.


    In view of how the algo's can destroy any bid/offer screen's in seconds, this makes for a most dangerous situation should someone want to get out. Just a word to the wise.

Wed, 08/03/2011 - 22:59 | 1522780 pdizzle
pdizzle's picture

Mutual Funds = RIP - This was evident today as I had moved my 401K into small caps via the FRANKLIN SMALL CAP VALUE FUND-R into the close yesterday.  Normally I would expect this to out perform the S&P 500, but today it was only up .17% where as the SP-500 was up .5+% and the IWM etf was up .6+%.

Thu, 08/04/2011 - 03:02 | 1523032 michigan independant
michigan independant's picture

Around here August 15th 1971 was the end of so many things called money that we do not even care about the sociopaths today either.

By the early 1970s, as the costs of the Vietnam War and increased domestic spending accelerated inflation,   the U.S. was running a balance-of-payments deficit and a trade deficit, the first in the 20th century. The year 1970 was the crucial turning point, which, because foreign arbitrage of the U.S. dollar, caused governmental gold coverage of the paper dollar to decline from 55% to 22%. That, in the view of neoclassical economics and the Austrian School, represented the point where holders of the U.S. dollar lost faith in the U.S. government’s ability to cut its budget and trade deficits.

If you look back you will see the lie today is they will cut and cap spending. It is just not true.

The second nation ended from the eyes of the first but you never listened.


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