Main Street Investors Dial Back Exposure a Touch in August

TD Ameritrade’s Investor Movement Index (IMX) indicates home gamers cut back on equity exposure slightly in August, although the index is still very bullish and remains higher than what we saw in April. From the New York Stock Exchange trading floor, JJ Kinahan, Chief Strategist of TD Ameritrade tells TheStreet’s Jill Malandrino that the slight dip is not really a surprise as August started out with geopolitical conflict escalation in the Middle East and Easter Europe. The tech sector led the way in net sellers, with notable names like Intel and Microsoft. Twitter saw some pressure as did the financials, including Citigroup and Goldman Sachs. Buyers focused on Walgreen, Kinder Morgan, and took advantage of the dips in Sprint and 3D Systems. IPO names like MobileEye and El Pollo Loco were popular buys as well.