Market Overview

USA TD Ameritrade's Investor Movement Index for Dec 5.62 vs 5.42 Prior

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The IMX climbed to the highest reading in its four-year history as equity markets pushed to new record levels.

The IMX rose for the third consecutive month to 5.62, and above the previous record high of 5.56 set in June 2011. The S&P 500 traded lower in the first half of December before bouncing to a record high. TD Ameritrade clients appeared to treat the volatility in December as a buying opportunity. Buying activity was broad-based, as clients were net buyers of individual equities and U.S. stock mutual funds/ETFs, which increased their equity market exposure. Clients were net sellers of commodities-based ETFs and mutual funds, which helped reduce their exposure in gold, natural gas, and oil.

Widely held names included Apple (NASDAQ: AAPL), General Electric (NYSE: GE), Bank of America (NYSE: BAC), and Facebook (NASDAQ: FB).

Trading
The December IMX period saw rotation out of Facebook and into Twitter (NYSE: TWTR), as Facebook rose to a new high and TD Ameritrade clients continued to accumulate positions in Twitter. Clients were net buyers of AT&T (NYSE: T) and Ford Motor (NYSE: F), as both traded near multi-month lows. We saw net buying activity in names that have been trending higher since the summer of 2013, including Amazon Inc. (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Mastercard (NYSE: MA).

Additional popular names bought during the December period were Micron Technology (NYSE: MU), Rite Aid (NYSE: RAD), and Bank of America.

In addition to the net selling of Facebook, clients also sold Oracle (NASDAQ: ORCL), as its price spiked after announcing earnings and an acquisition of a complimentary business. Also in the technology sector, clients were net sellers of Intel (NASDAQ: INTC), after the stock price moved higher following an analyst upgrade at the beginning of the month. Clients also sold eBay (NASDAQ: EBAY), which has been range-bound over the last year and traded near the high end of its recent range in December.

Additional popular name sold included Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), American International Group (NYSE: AIG), Alcoa (NYSE: AA), and Caterpillar (NYSE: CAT).

Posted-In: News Econ #s Economics

 

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