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TrimTabs Research Products

U.S. EQUITY MARKETS
Weekly Liquidity Review
Every Sunday evening, Charles Biderman provides commentary on the previous week’s major liquidity events and updates his forecast of the short-term direction of the stock market. The research includes our latest measure of L1, which estimates the effect of corporate actions on the net change in equity stock outstanding.

Components of L1 include:


The weekly review also includes summary data of our Fund Flow Research which surveys daily flows into mutual fund and ETF’s as well as highlights from our Macro Research which focuses on real time (daily) indicators of income and employment and a summary of major liquidity developments on the LSE, Euronext and Hong Kong exchanges.

Overnight Liquidity Update
Charles Biderman analyses the previous day’s liquidity numbers, and how current liquidity events are likely to affect the market. The research is published Monday through Thursday overnight

Sector Liquidity Report
A bi-weekly report on liquidity trends in industry groups and sectors in the Russell 1000 and S&P 500. We aggregate actual and announced buybacks, new offerings, and announced mergers as well as dividends and shares outstanding on an industry and sector basis. Our proprietary Sector Liquidity database allows us to apply our key line liquidity measure L1 - the net change in trading float - to industry groups, sectors and individual stocks. Clients subscribing to the underlying database can apply portfolio-specified sectors or ticker groupings to see how their portfolio compares to the industries or sectors they invest in.

Wee provide our Actual Quarterly Liquidity Database (AQLDB) as a complement to the report. The AQL Database is a powerful excel-base toll which enables fast liquidity analysis of all Russell 1,000 components and Standard & Poor’s Industires.


GLOBAL EQUITY MARKETS
Weekly Global Liquidity Review
Sent out on Monday night, the TrimTabs Weekly Global Liquidity Review applies our L1 methodology to track liquidity trends on the London Stock Exchange, the Euronext the Hong Kong Stock Exchange. The Global Liquidity Review provides our readers with exposure to a combined market cap of $8.7 trillion (vs $15 trillion for the NYSE).

On these three markets, we believe this actual liquidity data is more timely and comprehensive than the liquidity data available for the U.S. stock market as it is not subject to SEC reporting delays. In addition, our global liquidity database can generate sector-specific or stock-specific reports on each L1 variable, allowing us to provide clients with daily liquidity analysis of their portfolios.

Global Liquidity Alert
Every Friday evening, Charles Biderman briefly summarizes major liquidity events on the London Stock Exchange, the Euronext and Hong Kong Stock Exchange and discloses our market call for the coming week.



Equity Float, Mutual Fund & ETF Reports
Daily Liquidity Report
Published an hour before the close U.S. Equity markets, we report the previous day’s L1 (equity liquidity), mutual fund, and ETF flows. Our sample includes all 563 US-listed ETFs (total assets of $500 Bn as of February 2007) and more than 800 mutual funds (total assets of $635 Bn as of February 2007). Mutual funds and ETFs flows are broken down by investment objective and Morningstar categories. This report also includes our estimates of equity and bond funds flow for the entire Investment Company Institute (ICI) universe of long term mutual funds.

Weekly Flow Report
Sent out on Tuesday evening, this report aggregates weekly ETFs and Mutual Fund flows by Morningstar category since January 2000, along with weekly L1 components. This report is mostly designed for quants.



Macro Research
Weekly Macro Analysis
TrimTabs proprietary web-spidering technique collects data many times a day from several unique sources in order to provide a real-time or near-time snapshot of economic activity in the United States with a particular focus on the financial health of the U.S. Consumer. Every Tuesday, Madeline Schnapp synthesizes this data and provides conclusions on the direction of the U.S. economy. Our focus on high frequency daily data gives you as much as six weeks advance notice on the direction of the U.S. economy when compared to data from traditional government indicators. This report consolidates a number of high frequency economic indicators:


Employment News Flash
Published monthly on the morning of the release of the monthly U.S. Bureau of Labor Statistics (BLS) employment report, this email news flash provides commentary on the validity of the government employment data. The BLS employment data is frequently inaccurate and subject to large revisions as high as 150% of the original estimate. Our special focus helps you interpret the often confusing but significant effects of revisions and seasonal adjustments that habitually underestimate or overestimate actual employment levels. By understanding the true nature of the U.S. employment situation, knowledgeable market traders have a significant edge over those traders that believe the often inaccurate and untimely government data releases.