UPDATE: TD Ameritrade's IMX Sentiment for Feb. Gains, Now at 5.74

The IMX rose to 5.74, recording a new high for the third consecutive month as equity markets rallied to all-time highs. TD Ameritrade clients were well positioned for the rally in February as they built up market exposure in January when the S&P 500 declined. The IMX has increased for five consecutive months, which is the longest upward trend in nearly two years. Since tracking of the IMX began in January 2010, the longest run of consecutive increases was the six months ending in March 2011. Net buying activity in individual equities was concentrated in technology and mixed across other sectors. Clients appeared to be focused on stock-picking strategies, as net buying activity in U.S. ETFs and mutual funds was lower than in previous months. International stock mutual funds and ETFs were net sold amidst economic concerns in emerging markets. Trading Net buying activity within the technology sector favored Google GOOG, AT&T T, Twitter TWTR, and Verizon VZ. TD Ameritrade clients appeared to treat volatility in widely held names - including General Electric GE, Amazon AMZN, and Coca Cola KO - as an opportunity to build up positions. Net buying activity also favored Chevron CVX, Kinder Morgan KMP, and Sea Drill SDRL; each of these energy-related companies were trading at multi-month lows. Additional popular names bought included Gilead Sciences GILD, MasterCard MA, Proctor and Gamble PG, and Bank of America BAC. While clients were net buyers overall in the technology sector, they were net sellers of some widely held names: Nokia NOK, Alcatel ALU, Cisco CSCO, and Yahoo YHOO. Caterpillar CAT and Green Mountain Coffee Roasters GMCR both saw new highs in February, which clients seemed to view as an opportunity to sell. Clients also lightened positions in Apple AAPL, which recently bounced higher off of a multi-month low. Additional popular names sold included Morgan Stanley MS, Sirius Satellite Radio SIRI, Intel INTC, and Microsoft MSFT.