Abysmal Volume Means Lowest Participation Trading Holiday Week In Years
One look at today's trading volume speaks volumes about the state of the market. While today is not the lowest volume day in the past several years, it closely competed with Thanksgiving for the worst participation day in 2010. Furthermore, keep in mind that traditionally record low volumes are reserved for the days just before the New Year. Which means that since we have three more trading days until the end of the week, we will certainly see at least a one day in the upcoming three, when the volume will be the lowest recorded probably this century. Welcome to the new volume normal, when two computers pass three shares to each other all day long. And if there is one thing the flash crash should have taught us, is that computers take months to accumulate a position, and milliseconds to unload... Also what this non-existent volume means for broker commission sales, we leave it up to Dick Bove's abacus.
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