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Abysmal Volume Sell Off In Last Q1 T+3 Settlement Day
Well, the idiot regulators, market monopolists, frontrunning algorithms, and, of course, Hewlett Packardian central planners have finally succeeded in driving everyone else out of the shark pool. Calling today's volume abysmal would be an insult to abysses everywhere. The OED is now in need of a word to explain the kind of market volume that appears to be part of the new Vissarionoviched normal. As we closed T+3 prior to Q1 settlement, stocks meanders without direction then saw nearly 1 billion in market on close sell orders. And what is far worse for the momo lemming brigade is that despite the negligible volume is the market, which traditionally manages to levitate courtesy of rebate collecting HFT stock churners, the wealth effect denying sell off could not be prevented. Is the Fed losing its market manipulating touch?
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"Calling today's volume abysmal would be an insult to abysses everywhere."
bahahahaha.
$1m portfolio
Long: $900,000 junior gold and silver stocks (Canada)
Short: $100,000 Copper (reverse ETF's; CME July $4.25 puts)
Stratagem: Copper crashes taking everything with it including gold and silver but after the crash, global CB's ramp up printing presses and PM's go parabolic.
Targets: TSX Venture Exchange ($CDNX) 4,290
Copper $2.35 /lb.
If I am wrong, shorts cost me $100,000 but gold goes whacko and my juniors are worth $3m.
If gold goes into the tank and copper goes parabolic, I will do a forward 500 and a half off the CN Tower and it won't fucking matter anyhow..
not to be crass but you have more balls than a skydiver. but i admire the commitment.
You call that a sell off? That's a dip and we all know what happens next.
she cannot believe the dow fell today
Strange.... that's the same expression she has during orgasm.
I dont think it's the sell-off per se, but rather the selling into the close on low volume that may be the tell. Typically, we've seen ramp jobs on low volume into the close, esp on Mondays.
But, of course, one data point does not a trend make. Stay tuned...
"Is the Fed losing its market manipulating touch?"
Of course not. On a positive note, solars rallied today. :)
I sure don't profess to know. But like I said, I sold last week and I am now set up to go either way. The long side will need to prove itself with an IWM breakout to new all-time highs. This is another critical juncture.
From what I have read recently low market volume actually hurts high frequency traders and quants. Anyone (Tyler Durden or otherwise) who says otherwise is either obtuse or blowing smoke up your ass.
I don't see any way the markets go higher unless Bernanke sets up positive spin on QE3. We're all fucked and he knows without the Fed's dough, the markets are toast.
I'm betting on a take-down of BAC, the worst toxic asset in the world. Bennie telling them they couldn't raise their dividend (if .01 is what you call a dividend these days) was a pretty serious call. Actually surprised Ben stepped up like that. Shocked, really.
Somebody at the Fed doesn't like BAC. That's pretty obvious.
The Fed recently ran some 'Reverse REPOS" as a 'test'; maybe today was a "Reverse PUMP" as a 'test' to see where the market would wind up...