Who is buying this market???

ICI's latest data discloses that in the week ended September 8, domestic funds saw outflows of $2.2 billion, following last week's massive $7.7 billion. And yes, ETFs experienced outflows as well. So far September has experienced nearly $10 billion in outflows, even as the market has ramped by over 6%. Who is buying this shit? Just ask The New York Fed and Citadel: they may have a few pointers (wink wink). This is the 19th sequential outflow from US stocks, and amounts to $65 billion in redemptions for the year. With the market pretty much unchanged YTD, it means that mutual funds can not resort to capital appreciation as a substitute to outflows, and most are on their last breath (Janus: blink twice if you are still alive please). The kicker:the S&P is at the level it was when the outflows began back during the flash crash. If that doesn't restore all your confidence that Uncle Sam will be so good at managing the market (just like he has done with everything else), nothing else will. Throw in a little HFT, a little subpennying, a little Flash trading, a little DMA trading, a little quote stuffing, a little hedge fund clubbing, a little specialist front running, a little daily flash crash in big caps like Nucor Steel, and you can see why next week we will most certainly have our first inflow in 20 weeks. Or not. It doesn't matter. Nobody that is made of carbon, or who doesn't already have direct access to the Fed for zero cost funding, is trading stocks anymore. -- courtesy of zerohedge.com


My view... the market is at the top of its range that it has spent the majority of time for a year now.  so I'm not going to bail on my loser shorts, however, the LRCs are still pointing up so its been quite painful.  SnP has been up 9 of the last 11 days.  I am in the bottom 100 in the latest wall street survivor contest.  Could get a margin call any day now.  Its all quite depressing.  Todays nonsense was disgusting.  Bad econ news and it stayed down for 15 minutes then up the rest of the day.  And even that was jagged and chaotic.  Maybe the stock market is simply not the way to spend my time.