Buy. Buy. Buy.
"The start of earnings season had a definite effect on the stocks that our clients chose to buy and sell during the July period," said JJ Kinahan, chief market strategist at TD Ameritrade. "It appears investors followed the traditional method of buying-low and selling-high, while staying invested in stocks that have better long term possibilities." The buying activity comes despite mixed reactions on Wall Street to second quarter earnings from tech companies.
TD Ameritrade's Investor Movement Index, a proprietary behavior-based index, remained stable from June to July.