'Investors' Haven't Bought Tech Stocks Like This Since Bernanke Hinted At QE2 In 2010

Tyler Durden's picture

Investors piled $2.7 billion into QQQ (the benchmark ETF tracking the Nasdaq 100 Index) in the five days through July 14 as shares in the fund posted their biggest advance this year.

As Bloomberg notes, the biggest weekly inflow since September 2010 came as the tech-heavy index - with megacaps Apple, Amazon, Facebook, and Alphabet among its largest members - rebounded to within 1 percent of its record high.

The last time investors flooded into the tech index in this size was shortly after Ben Bernanke's infamous hint at more money-printing to come in late-Summer 2010 during the Jackson Hole event.

Speculators, however, are still wary of the sector: they cut net positions in Nasdaq 100 futures for a fourth week, data from CFTC showed Friday...

This is the biggest spec long reduction since the week of the election and the least bullish positioning since May 2016.

So is the 'retail' bagholders in as the pros exit?

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AVmaster's picture

Don't worry, hookers n blow are still relatively cheap after a crash....

order66's picture

Classic risk dump onto mom and pop - and companies doing buybacks.

NDXTrader's picture

Bagholders rally. The NDX will go higher, but not before they scare people out 9-11% lower. I see 5400 first

junction's picture

One word: RADIO.  That was big in the 1920s until the stock market had a correction in 1929.

Iconoclast421's picture

Still waiting for that new all time high so I can ... BTFATH!

Hikikomori's picture

Looks like the 2nd. biggest time was December 2016 - and that turned out to be a good trade.

CPL's picture

Uptick rule FASB put in place during the 2007-2008 shit show, spend a million to short a couple of billion.  If volume is any indication the 'crazy stock purchases' they are doing are anemic in comparison to ten years ago.

yogibear's picture

Bullish!, Infinite QE.