The real source of US bar market – the fear related $99.7 Billion pull out by baby boomers – the trend can push Dow below 1700
Joe Weinman
Oct. 31, 2008

Investors withdrew a record $99.7 billion from U.S. stock mutual funds in October, according to market data. Redemptions by individual investors and institutions jumped 40 percent from the previous high of $60 billion in September.

The redemption was mainly driven by fear and was led by the baby boomers.

Fund shareholders started the month by taking $52 billion from stock and bond funds in the week ending Oct. 9, a seven-day record. In the week ending Oct. 29, they pulled $9.2 billion from stock funds and $5.87 billion from bond funds.

TrimTabs hasn''t compiled a final figure for bond-fund outflows in October. Though yesterday, an estimated $29 billion had been withdrawn from fixed-income funds in the month, though Gann said the figure is preliminary and subject to revision.

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