Traders Sent $30 Billion Into the Dip and This Time Got Bruised
- QQQ, SPY ETFs attracted fresh money during last week’s selloff
- Back-to-back big down days getting more frequent this month
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Buying after a plunge, a trade rewarded virtually every time stocks pulled back in 2021, is facing a big challenge.
Down hard for a second day Monday, the S&P 500 has now posted back-to-back, 1%-plus swoons twice in the past month, something it has mostly avoided doing before. It’s a worrying departure from the recent past, when 1% drops were trimmed or erased the next day 68% of the time, making 2021 one of the best years ever for dip buyers.