IMX Indicates Retail Investors Slightly More Bullish Than April
The IMX was steady in May at 5.69, versus 5.67 in April. The flat reading indicates that investors are roughly as bullish as they were one month before. The report goes on to state that the general trend was the sales of stocks that popped higher and the addition of positions that were weak during the period.
Furthermore, Chief Strategist JJ Kinahan commented, “With no major changes, it seems clients are working the market to set up positions and take profits but still with an overall bullish sentiment.”
Net buys for the month include Twitter, Yahoo, Whole Foods Market, Amazon, Bank of America and Prospect Capital.
The largest net sell for TD Ameritrade clients during May was Apple. Other notable sales include Coca-Cola, Cisco, Intel, JC Penney, Sirius, McDonald’s and American Airlines.
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