“Stocks have headed higher without respite to start 2013.
Many strategists are warning that a sell-off is in order (see here and here), especially given a wide range of indicators that suggest investor sentiment is at historical highs.
Today, we get an indication from BofA equity strategist Savita Subramanian that hedge funds are now selling stocks
– and they’re selling them to private investors, who are picking up their pace of buying.
Below is a chart showing that BofA “private clients,” or individual investors, have been buying stocks since mid-January…”
they lied,they also lied about buy and hold is dead.