The do-it-yourself crowd bought a net US$2.7 billion of stocks in the week through Tuesday, roughly in line with the one-year average, according JPMorgan Chase & Co. strategist Peng Cheng, who derived the estimate from public data on exchanges.
“Retail investors have the potential to ‘will’ the market higher,” said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors. “But in this environment I think most will look for confirming support from the institutional side.” The drop in part reflects institutional investors shuffling holdings to adjust to the new Fed regime. It also coincided with a reversal of fate in the once-successful strategy of buying the dip. Gains that newbie traders relied on are evaporating. As of mid-June, all their trading profits made during the meme-stock era had been wiped out, JPMorgan estimated.
Some big money managers are also stuck in short positions where retail refuses to give up their shares, like in amc/gme. Meme holders are ok with the market crashing since that means less collateral and margin calls for Big money shorts. Ape already made it on Threshold list😉
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