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‘Now That’s Some Dip-Buying!’ Tech ETF Got $1.5 Billion In Inflows Tuesday

"...but I do know who's not afraid: Nasdaq-buying E*Traders, dammit."

Who’s afraid of nuclear war?

Who’s afraid of a constitutional crisis?

Well, I don’t know, but I do know who’s not afraid: Nasdaq-buying E*Traders, dammit.

How do I know they’re not afraid? Well, because on Tuesday folks plowed nearly $1.5 billion into the PowerShares QQQ Trust:

QQQ

As Bloomberg notes, that right there is the fourth-largest inflow in five years. That’s what you call buying the fucking dip.

And really, you shouldn’t be surprised. After all, this deeply ingrained obsession with dip-buying was readily apparent in the flows data as SVXY took in something on the order of $500 million in the five days through Monday while UVXY saw massive outflows over the same period:

InflowsSVXY

UVXY

UVXY shares outstanding have been cut in half in just a couple of days [while] SVXY has almost doubled the shares outstanding since the VIX spike occurred and has reached a market cap of $1.1 billion.”

SharesOut

In short: “all hail the BTFD sacred cow”…

Cows

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