Lats week saw a massive $3.3 billion inflow into QQQ (the Nasdaq ETF) – this is the biggest retail flow into the fund since October 2000 (which didn’t end well).
The last time QQQ saw inflows of this magnitude was Oct 2000 – which preceded an 80% reality-checking collapse in stocks…
And so far, this morning sees things off to a terrible start as tech stocks are trashed by EU regs and Facebook’s fumblings…
All of which are weighing on the Nasdaq heaviest..
And perhaps most notably, there was no machine auto-bid bounce at the open – in fact the opposite…
Of course, this is not helped by the fact that every hedge fund is up to their neck in this stuff…
Is this extrapolated trend about toi snap?
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