I cited some data that suggested yesterday’s sell-off was rather girly and highly un-menly.
Lets look at stocks over 50b that are up or down more than 2.5%:
These numbers are not egregious. During a real menly man’s selloff, you will see many more down than just the 7 listed here (for reference there are 128 stocks > 50b in mkt cap)
Today there are 46 / 128 stocks with a market cap of greater than 50b moving up by more than 2.5%, 35.9%. This is a TON of money, not smallcap players, which is why we look at this.
I don’t use this stat to “predict” the next days direction but rather, get a sense about how serious big players (pensions, MFs, etc etc) are about today’s direction. Today? They seem enthused.