Many of the purchased and widely held names saw
volatility remain relatively stable compared to the overall U.S.
equity market
TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer
subsidiary of TD Ameritrade Holding Corporation (NYSE: AMTD), is
today releasing the Investor Movement Index® reading for July 2015.
The Investor Movement Index, or the IMXSM, is a proprietary,
behavior-based index created by TD Ameritrade that aggregates Main
Street investor positions and activity to measure what investors
are actually doing and how they are positioned in the markets.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150810005951/en/
The July 2015 Investor Movement Index for the four weeks ending
July 31, 2015, reveals:
- Reading: 5.39 (compared to 5.32 in
June)
- Trend direction: Positive
- Trend length: 3 months
- Score relative to historic ranges:
High
The IMX rose to 5.39 in July as TD Ameritrade clients were net
buyers while slightly increasing their exposure to the equity
market.
TD Ameritrade clients were strong net buyers of equities during
the July IMX period which helped to increase the IMX reading.
However, many of the purchased and widely held names saw volatility
remain relatively stable compared to the overall U.S. equity
market, resulting in a slight IMX increase.
“It was an active earnings month in July and we saw our clients
reallocate their capital around corporate earnings announcements,”
said JJ Kinahan, chief strategist, TD Ameritrade. “Many of our
clients lightened positions in the form of profit taking after
companies posted positive earnings. In contrast to the selling
activity we saw net buying in stocks that have been under pressure,
clients appeared to view the lower prices as buying
opportunities."
Volatility in the S&P 500, as measured by the VIX, trended
higher during the first two weeks of the July IMX period, and
closed above 19 during the second week, a level it has not seen
since early February. The S&P 500, which has been range bound,
recorded a slight gain of 0.11% during the period, while the NASDAQ
Composite gained about 1%. Both indexes saw increases into the
third week of July, with the NASDAQ setting a new all-time high,
only to retreat in the fourth week and rebound only slightly to
close the period. Both the Dow Jones Industrial Average and Russell
2000 lost ground during the month, closing down 1.42% and 3.2%
respectively. Fears of a Greek default and possible exit from the
Euro, declining oil prices and a market sell off in China all
seemed to weigh on the markets during the month, although many TD
Ameritrade clients appeared to treat the lower prices as buying
opportunities.
Oil producers were popular net buys in July, including
Conoco-Phillips Corp. (COP), Exxon Mobil Corp. (XOM) and Chevron
Corp. (CVX) as a slide in oil prices weighed on their share prices
ahead of their earnings announcements. Chesapeake Energy Corp.
(CHK), another Energy sector issuer, was also a net buy as it also
felt the pressure of lower oil prices and was forced to suspend its
dividend payments. Apple Inc. (AAPL) was a net buy as its price
dipped following its earnings announcement and disappointing
guidance. TD Ameritrade clients were also net buyers of Netflix.com
Inc. (NFLX) at its new, lower price point following its 7 for 1
forward split. Netflix’s stock price also gapped higher after
reporting earnings above consensus estimates. The stock price of
Facebook Inc. (FB) climbed to an all-time high, but traded lower
toward the end of the month and was a popular buy of TD Ameritrade
clients.
Despite the strong net buying in equities during July, there
were some popular names net sold surrounding favorable earnings
announcements. Google Inc. (GOOG,GOOGL) was a net sell as it posted
better than expected earnings and saw its share prices surge to a
new high. Financial sector issuers Citigroup Inc. (C) and
MasterCard Inc. (MA) were also net sells following a price
increases after their earnings announcements. General Electric Co.
(GE), which met earnings and announced a restructuring away from
the financial business, was also net sold. Amid concerns about the
Chinese economy, Alibaba Holdings Group Limited (BABA) was net sold
and hit a new all-time low in July.
The IMX value is calculated based on a complex proprietary
formula. Each month, TD Ameritrade pulls a sample from its client
base of 6 million funded accounts that includes all accounts that
completed a trade in the past month. The holdings and positions of
this statistically significant sample are evaluated to calculate
individual scores, and the median of those scores represents the
monthly IMX.
For more information on the Investor Movement Index, including
historical IMX data going back to December 2010, to view the full
report from July 2015, or to sign up for future IMX news alerts,
please visit www.tdameritrade.com/IMX. Additionally, TD Ameritrade
clients can chart the IMX using the symbol $IMX in either the
thinkorswim® or TD Ameritrade Mobile Trader platforms.
Inclusion of specific security names in this commentary does not
constitute a recommendation from TD Ameritrade to buy, sell, or
hold.
Past performance of a security, strategy or index is no
guarantee of future results or investment success.
Historical data should not be used alone when making investment
decisions. Please consult other sources of information and consider
your individual financial position and goals before making an
independent investment decision.
The IMX is not a tradable index. The IMX should not be used as
an indicator or predictor of future client trading volume or
financial performance for TD Ameritrade.
For the latest TD Ameritrade news and information, follow the
Company on Twitter, @TDAmeritradePR.
Source: TD Ameritrade Holding Corporation
About TD Ameritrade Holding CorporationMillions of
investors and independent registered investment advisors (RIAs)
have turned to TD Ameritrade’s (NYSE:AMTD) technology, people and
education to help make investing and trading easier to understand
and do. Online or over the phone. In a branch or with an
independent RIA. First-timer or sophisticated trader. Our clients
want to take control, and we help them decide how — bringing Wall
Street to Main Street for more than 39 years. An official sponsor
of the 2014 and 2016 U.S. Olympic and Paralympic Teams, TD
Ameritrade has time and again been recognized as a leader in
investment services. Please visit TD Ameritrade’s newsroom or
www.amtd.com for more information.
Brokerage services provided by TD Ameritrade, Inc., member
FINRA (www.FINRA.org)/SIPC (www.SIPC.org)
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version on businesswire.com: http://www.businesswire.com/news/home/20150810005951/en/
TD Ameritrade Holding CorporationFor Media:Beth Evegan,
201-369-5930Communications & Public
Affairsbeth.evegan@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor Relations &
Financejeffrey.goeser@tdameritrade.com
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