Hedge Funds were big buyers during last week’s rally.
According to GS Prime, last week’s buying in Tech was the largest in 16 months (since Dec ‘22) and ranks in the 99th percentile vs. the past 5 years.
$Invesco QQQ(QQQ)$ $Tesla Motors(TSLA)$ $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Microsoft(MSFT)$ $Apple(AAPL)$
Here's what I posted a few days ago to compare:
Over the past month, we have seen a sharp decrease in positioning across Hedge Funds, Retail, Asset Managers, CTAs, and ETF Flows.
The 4wk decrease in positioning reached the most extreme level we have seen since last October. $S&P 500(.SPX)$
https://twitter.com/Marlin_Capital/status/1784999448231248125
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