The Australia 200 Cash index has been heavily sold since Friday’s plunge in the US. There’s concern over the outlook for emerging markets, looming taper considerations, talk of a potential correction unfolding, and a general risk-off sentiment. So how are our top clients currently positioned? Of those with a position in the local index, 55% are long. However, the combined value of their trades equates to only 29% of the total open positions within this instrument. Conviction with the sellers here. (The Client Sentiment Indicator may be accessed by clicking on the arrow next to the instrument below and selecting from the drop down menu).