Apple, Netflix Saw Buyers During September Selloff Says TD Ameritrade

The market’s late summer squall carried over into September, but not all individual investors ran for safety. A lot picked up some familiar names like Apple and Disney while others exited, said JJ Kinahan, Chief Strategist at TD Ameritrade. TD Ameritrade’s Investor Movement Index, or IMX, saw a steep decline to 4.76, as volatility within the equity markets persisted in September. September saw the second-largest decrease in the IMX since publishing of the index began in December 2012, according to the company. Many of the widely held positions within TD Ameritrade client accounts saw decreases in their volatility relative to the market, which pushed the IMX lower. Nevertheless, despite the heightened volatility, TD Ameritrade clients were net buyers for the month of September. While this typically would work to increase the IMX reading, in September the volatility in many of those companies decreased at a faster rate than that of the overall market which equated to a lower relative volatility and a lower IMX. As for individual stocks, Apple (AAPL), was a popular net buy in September, according to the company. 'People tend to have real fondness for Apple,' said Kinahan. 'Even those that don’t participate in some of the rest of the market, they participate in Apple.'