Institutional clients are buying the dip in stocks says BofA

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PowerShares QQQ Trust, Series 1 (NASDAQ: QQQ) Delayed: 716.43 --0 (-0%)
Previous Close $716.43    52 Week High $119.66 
Open $716.43    52 Week Low $94.84 
Day High $716.43    P/E N/A 
Day Low $716.43    EPS $0.00 
Volume 348,750       

S&P DEP RECEIPTS (NYSE: SPY) Delayed: 769.35 --0 (-0%)
Previous Close $769.35    52 Week High $219.60 
Open $769.35    52 Week Low $181.02 
Day High $769.35    P/E N/A 
Day Low $769.35    EPS $0.00 
Volume 80,219