Retail is buying the dip in chip stocks on leverage: The 3x leveraged long US semiconductor ETF, $SOXL, attracted +$5.1 billion in inflows last week, its 2nd-largest weekly intake on record. This was only exceeded by the +$6.1 billion recorded in the week ending October 16th. This comes despite $SOXL falling -40% over the same period. Over the last 4 weeks, the fund has attracted +$13.4 billion in inflows. Subsequently, $SOXL prices surged +22% on Monday. Meanwhile, the Nasdaq 100 ETF, $QQQ, attracted +$3.7 billion last week and +$5.7 billion the week before, marking its largest 2-week inflow since August. Retail investors are aggressively buying the dip.

Retail traders, the stock market’s most avid dip buyers since the pandemic, were among the investors buying on Friday after US equities had their worst day since 2025. But their typical enthusiasm was nowhere to be found.

Retail demand for stocks is incredibly strong: Retail investors purchased US equities in the 22 consecutive sessions ending November 3rd, the 3rd-longest streak since the memestock mania in 2021. This also ranks as their 6th-longest purchasing streak since 2017. Over this period, retail investors bought ~$33 billion in equities, their 5th-largest purchase since 2017. This equals an average of ~$1.5 billion per trading session, and +40% above the trailing 12-month average. Year-to-date, retail investors have purchased a record +$251 billion in equities, surpassing the previous full-year record of +$241 billion set in 2021 and marking a +134% increase from the same period last year. Retail continues to buy the dip.

Retail just dumped Communication Services at a record pace $4.8B out last week alone This was the biggest outflow since the sector was created in 2018 And Retail did 70% of the selling

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