Stocks: Millennials more likely to use pullbacks to buy, says TD Ameritrade strategist – Yahoo Finance

Millennials are more likely to step in to buy equities during sell-offs, according to data compiled by TD Ameritrade.
“They have a little bit more of a long-run horizon. They also tend to lean towards some of the more growth-oriented technology names,” said TD Ameritrade’s head trading strategist Shawn Cruz.
“They might be one of the first client bases that are willing to step in and use some of these pullbacks as buying opportunities.”
Data compiled by the brokerage firm shows recent investor behavior among its clients. TD Ameritrade’s Investor Movement Index in December came in at 4.7, unchanged from the previous month. Clients ended the year as net sellers of equities overall but bought into some of the names that have gotten beaten up through 2022.
“We saw electric vehicles like Tesla (TSLA), Rivian (RIVN), get some interest. We also saw some of the more popular tech names that have really been getting hit really hard like Apple (AAPL) and Amazon (AMZN).”
Cruz also noted “semiconductors is becoming a little bit more of a stock pickers' market.”
He said investors have been buying Intel (INTC), while unloading names like Nvidia (NVDA). Traders also used the month of December to offload some energy names amid fluctuating oil prices.
“I do expect that to be a little bit more of a volatile month per month industry — when you look at energy names as far as what is being bought and sold,” said Cruz.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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