Broker data, page-8

My observation from the broker data over last two months,
- In June 2016, Goldman Sachs biggest net seller, mainly from FMR
- In July 2016, main sellers, CLSA (Harbour) and Timber Hill (retail)
- Last week up to 4 August 2016, main insto sellers: JP Morgan, Morgan Stanley, UBS; retail joined dumping, biggest seller, Timber, Openmarkets & E*Trade.
- Latest data for last Friday, show two main constant dumpers, JPM & Timber eased, JPM became a net buyer, bought 186k last Friday. Timber offloaded close to 2m over last few weeks.

It appears instos turn into buying and retails continue to exit.

GLTAH