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Investment data: Orders by Fidelity Customers
2015 May 27, 1:32pm 4,099 views 3 comments
by justme follow (1)
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justme
2015 May 27, 1:57pm
The above is from today.
An example of using the data: Broadcom (BRCM) jumped from about $47 to about $57 today, presumably due to a report that the company may be acquired by Avago Technologies. This is BIG news in the semiconductor industry. What was the response of the Fidelity customers? As a whole, the order balance leaned slightly towards BUYING, but again I will refer to the caveat (*) mentioned above that I do not really know with certainty what Fidelity's metric is.
Heraclitusstudent
2015 May 27, 2:22pm
Retail investors buying... does this mean these stocks should be shorted?
For things like UWTI, it certainly looks like it's the case.
For AAL (based on the opposite sentiment?) it sounds reasonable.
What information do you get from that? Not much.
justme
2015 May 27, 2:27pm
Heraclitusstudent,
Those questions would be easier to answer if we knew the exact metric that Fidelity is using. Any insight? I am still also looking for similar data from other sources. You can be damned sure that all the big brokers and I-banks (think: Goldman-Sachs) mine their retail customer order flow like crazy and trade against it as best they can.
Think about it: Any big broker has a large trove of data from retail customers. What they own, what price they bought or sold it at, what stocks are hot today, what type of news and propaganda works when it comes to making retail investors act!
The question is, how can WE get as much of the same data as possible?
I like this resource, which was mentioned by Barry Ritholtz on his blog several weeks ago. The address is https://eresearch.fidelity.com/eresearch/landing.jhtml
The data shows the top 10 most numerous (*) retail orders by Fidelity customers. If you have a Fidelity login you can see the top 20 orders, and with less delay.
I find this kind of data fascinating, and I am looking for additional sources of this type of data.
The image above is yesterday's data.
(*) Actually, I do not know whether the ranking is by volume (share count) or dollar volume, and also not whether these are just entered orders or executed orders. Fidelity does not provide an accurate description of exactly what the ranking metric is. Also, there is the question whether Fidelity considers all their customers to be retail customers, or there might be some institutional investors (a pension plan as opposed to individual 401k customers) in the mix.
#investing