It’s a bad sign that retail investors so eagerly bought last week’s stock-market dip.

Last Friday, you may recall,

the Dow Jones Industrial Average fell nearly 900 points DJIA. Rather than rush for the exits, which retail investors often do when the market plunges, this time they enthusiastically bet on a quick rebound. According to data compiled by my colleague Joseph Adinolfi, last Friday “saw the biggest total buying by the retail crowd since Jan. 27, 2021, the day when the original round of meme-stock mania reached its apex as shares of GameStop Corp. GME soared.”