2013/3/4 - TD Ameritrade's Investor Movement Index: February Numbers Spike as a Result of Increased Equity Exposure and Low Market Volatility

The February 2013 Investor Movement Index for the four weeks ending Feb. 22, 2013, reveals:

• Score: 5.14 (compared to 4.71 in January)
• Trend Direction: Positive
• Trend Length: 1 Month
• Score relative to historic ranges: High

February’s IMX score is the highest seen since June 2011 and part of an increasingly bullish trend spanning much of the last seven months. In February, retail investors at TD Ameritrade continued to show signs of bullishness. Net buyers in the markets, investors were rotating their equity exposure, selling securities at highs and buying into lows. Portfolio positioning also played a role in the higher monthly score. Volatility across the broad market, as measured by indicators like the VIX, was quite low in February. TD Ameritrade clients held or increased their exposure to securities with higher relative volatility compared to that of the general market. This was a key factor in the higher IMX score seen in February.

“This score is a contrast to January’s IMX number, which dipped slightly from December after several months of gains,” said Steve Quirk, senior vice president of TD Ameritrade's Trader Group. “Given the circumstances around that time frame, such as uncertainty regarding the fiscal cliff and annual portfolio adjustments typically made at that time of year, it likely reflected unique conditions at year end. Now that those events are behind us, we are seeing results more aligned with national consumer sentiment indices.”

The IMX value is calculated based on a complex proprietary formula. Each month, TD Ameritrade pulls a sample from its client base of 6 million funded accounts that includes all accounts that completed a trade in the past two months. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly IMX.

For more information on the Investor Movement Index, including historical IMX data going back to December 2010, to view the full report from February 2013, or to sign up for future IMX news alerts, please visit www.tdameritrade.com/IMX. Additionally, TD Ameritrade clients can chart the IMX using the symbol $IMX in either the thinkorswim^® or TD Ameritrade Mobile Trader platforms.

Past performance of a security, strategy or index is no guarantee of future results or investment success.

Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision.The IMX is not a tradable index.The IMX should not be used as an indicator or predictor of future client trading volume or financial performance for TD Ameritrade.

For the latest TD Ameritrade news and information, follow the Company on Twitter, @TDAmeritradePR.

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TD Ameritrade Holding Corporation
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