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.