Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “The market’s moves, in other words, are not about news of the day but flows of the day. As Nick Colas at DataTrek Research wrote on Tuesday, “We’re long past the days where money managers had consistent fresh inflows of new investor capital to sprinkle around. Rebalancing portfolios means a dollar-for-dollar exchange of ‘out with the old, in with the new”….
Read the full article here on Yahoo Finance!