Retail Trading Army Is Seeing Power Wane in Stock Market It Once Ruled
- JPMorgan’s Cheng says the group’s potency has receded
- Retail trading at 17.5% of total volume, down from 24%: BI
Photographer: Sergey Mironov/Moment/Getty Images
This article is for subscribers only.
Small-fry investors are still screwing up the courage to buy every dip. Yet their success as a self-fulfilling force is dissipating due to the influence of big money managers who are cutting risk at every opportunity.
The do-it-yourself crowd bought a net $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.