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Huge Volume In ES on Close

Tyler Durden's picture




 

Update: As seemingly some are confused, the humor content of the below sentence is roughly 100%. 120% if you work for the government.

Did Liquidnet just blow up and route all its trades to the Nasdaq?

 

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Fri, 01/29/2010 - 17:12 | 211348 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Did reality set in on the street?  I can't believe it.  Maybe they all need some cash for the weekend....

Fri, 01/29/2010 - 18:13 | 211436 AxiosAdv
AxiosAdv's picture

Broke major technical support, so every trader, prop desk, and hedge fund got short on the close.  1020 here we come.

Sat, 01/30/2010 - 13:47 | 211891 Highrev
Highrev's picture

I think you're right.

Now the question is who was right on the buy and sell side into the close (long term there is no doubt that the sellers were correct, but short term?). Just as there are bull traps, there are bear traps too. A horrible Friday close works well to trap bears. Asia and Europe are also right on major technical support, but HAD FIRMED UP and started to rally where the odds favored a technical bounce.

The late day tank in U.S. equities had no relation to anything beyond its own shores. FX had money going into the U.S., but foreign markets were stable to up. Huh? Either it was a big bad bear trap, or something "local" (as in U.S. based) is close to blowing up (or being intentionally blown up). We'll see Sunday night. Either Asia will rally (Hong Kong is sitting on its 200dma and Tokyo on its 50dma) and the U.S. futures will ramp, or they won't. We either get a breakdown across the board in both Asia and Europe (with everyone well aware that it started in the U.S. and convinced that the U.S. selling will continue), or we don’t.

A lot will depend on what the PPT decides to do with the U.S. futures on Sunday. Let’s not kid ourselves, the rest of the world sleeps with one eye open, and that eye is on the U.S. futures. If the PPT wants to slam the market on Monday, their task is easy: simply reverse their SOP of the last 11 months. ;-)

Fri, 01/29/2010 - 17:16 | 211354 Zippyin Annapolis
Zippyin Annapolis's picture

Bankster behavior--tank the market until the bank tax goes away

Fri, 01/29/2010 - 17:45 | 211396 Rainman
Rainman's picture

....this is an absolutely cynical conspiratorial theory with which I totally agree.

Fri, 01/29/2010 - 19:55 | 211556 Anonymous
Anonymous's picture

Good point
They say you tax us who are you going to tax next

Fri, 01/29/2010 - 19:56 | 211559 Anonymous
Anonymous's picture

Good point
They say you tax us who are you going to tax next

Fri, 01/29/2010 - 17:17 | 211358 Oso
Oso's picture

Comments from BofA Merrill on today's move:  Massive redemptions from US equity funds of $8.3bn, the largest outflow since 23rd July 08 = retail capitulating out of US equities

Fri, 01/29/2010 - 17:22 | 211364 Ripped Chunk
Ripped Chunk's picture

You pic says it all.

Retail stampede for the door.

Fri, 01/29/2010 - 17:34 | 211383 Screwball
Screwball's picture

Maybe it's all the people that lost their jobs cashing in their retirements.  New tax year, end of first month.  Just a guess.

Fri, 01/29/2010 - 19:10 | 211511 Anonymous
Anonymous's picture

It's not capitulation to sell at the top of a 10 month rally.

Fri, 01/29/2010 - 19:11 | 211515 lizzy36
lizzy36's picture

how many sit around the table this weekend and say "we are down 5%-10% this year already"....we are out?

Fri, 01/29/2010 - 22:52 | 211671 phaesed
phaesed's picture

Thanks for posting that Oso. Next week is going to be interesting, I exited a significant portion of my TLT position for the pullback that's prolly gonna come. (except for my doomsday leaps)

Fri, 01/29/2010 - 17:24 | 211368 FoolMeTwice
FoolMeTwice's picture

My thinking is that any substantial market drop will lead to revolt on main street which is neither favorable for banksters (lamp posts) or govt (elections coming up). This is probably some retailers panicking and market might drop a bit further, but then again it will be ramped up or propped up.

Either that or SHTF and worldwide clusterfuck ensues.

 

Fri, 01/29/2010 - 19:07 | 211510 Anonymous
Anonymous's picture

most awesome avatar/name yet - says it all.

Fri, 01/29/2010 - 23:00 | 211675 msjimmied
msjimmied's picture

Let's hope its the latter and get this over with.

Sat, 01/30/2010 - 00:12 | 211706 Bear
Bear's picture

Will drop to 1032.75, then back to 1087.50 ... then bomb's away ... from the Bear

Fri, 01/29/2010 - 17:32 | 211377 Anonymous
Anonymous's picture

... but who bought it?

Fri, 01/29/2010 - 17:32 | 211378 johngaltfla
johngaltfla's picture

The roof,

The roof,

The roof is on fire,

The roof,

The roof,

The roof is on fire....

This sucker is going DOWNTOWN now. What a huge key reversal day. El Presidente of this Banana Republic is about to get tested. S&P 901 here we come.

Fri, 01/29/2010 - 17:40 | 211392 crosey
crosey's picture

Keep them fed and entertained, and all will be well.

- Rome, 21 AD

Sat, 01/30/2010 - 06:04 | 211773 Anonymous
Anonymous's picture

go down soon...i have been waiting for this crash for a long time now....got some PUT options for march....now fast downhill baby

Fri, 01/29/2010 - 17:39 | 211390 crosey
crosey's picture

wfc looks like it did the same

Fri, 01/29/2010 - 19:11 | 211513 Anonymous
Anonymous's picture

Hey, i just realized Wells Fargo's ticker symbol could stand for Whatthefuck Corp.

Fri, 01/29/2010 - 17:39 | 211391 El Hosel
El Hosel's picture

  The volume is not saying retail, its big, very big.

Fri, 01/29/2010 - 17:43 | 211394 crosey
crosey's picture

Someone does not want to be caught, over the weekend, when the music stops playing.

Fri, 01/29/2010 - 17:46 | 211399 Anonymous
Anonymous's picture

is this guy f*cking retarded

Fri, 01/29/2010 - 17:53 | 211411 luster
luster's picture

To whom are you referring?

Fri, 01/29/2010 - 17:50 | 211405 johngaltfla
johngaltfla's picture

Funny thing is the moves in JPM and GS at the same time. Somebody "has" to get liquid and fast....

Fri, 01/29/2010 - 20:31 | 211592 Missing_Link
Missing_Link's picture

I'm not sure I see that.  There were moves in most major stocks at the same time today.  Almost certainly driven by index and sector ETFs moving the whole market up and down.

Fri, 01/29/2010 - 17:52 | 211407 Anonymous
Anonymous's picture

Why is the Bank of America Website down? I cannot get into my account!!

Fri, 01/29/2010 - 21:58 | 211639 Anonymous
Anonymous's picture

Report on ABC news is that BofA was hacked
Customers are unable to get at their funds...

Fri, 01/29/2010 - 17:56 | 211417 vreporter
vreporter's picture

Are you guys for real?

The feeds publish structured trades like VWAPs at the close. LN would publish onto Nasdaq as an agency broker. Take a look at the prices on those trades. There's nothing special here. Calm down - despite the fact that I am still short!

Fri, 01/29/2010 - 18:12 | 211435 Anonymous
Anonymous's picture

Umm this is an ES chart. Those are only traded on one exchange (CME) None of this is liquidnet or NSDQ.

Fri, 01/29/2010 - 17:59 | 211419 CreditcalMass
CreditcalMass's picture

Ugly FDIC Friday on deck? And as others have mentioned, that move is way to large to be retail inbvestor related.

Fri, 01/29/2010 - 18:26 | 211451 Anonymous
Anonymous's picture

The Donchian 4 week sell rules being triggered last week and this week on the indices by funds was bound to get things going down.

Fri, 01/29/2010 - 18:42 | 211469 Anonymous
Anonymous's picture

sell Mortimer sell

sell Mortimer sell

sell Mortimer sell

Fri, 01/29/2010 - 18:43 | 211474 MarketTruth
MarketTruth's picture

Maybe they are FINALLY listening to me

Are you there yet?

 

Are you ready to finally pull out all your funds from banks?

 

Sell off all stocks/trades?

 

Perhaps even go on a labor strike with your co-workers and picket your State government?

 

Or are you just sitting there like a good sheeple?

 

Thomas Jefferson warned of the damage that would be caused if the people assigned control of the money supply to the banking sector, "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."

--- Thomas Jefferson, 1791

Fri, 01/29/2010 - 20:07 | 211570 Missing_Link
Missing_Link's picture

...  But Cramer told me to BUY BUY BUY!  And then he pressed the magical "aooogah" button on his sound board and I had to put my entire life savings on the stock market!

Fri, 01/29/2010 - 22:28 | 211655 Anonymous
Anonymous's picture

The worst part of these fridays selloffs have been the squeezing monday mornings. I'm getting tired of this CHeat, seriously... Unless you are a full time trader, this post-lehman market sucks.

Sat, 01/30/2010 - 00:21 | 211708 Bear
Bear's picture

Did you hear ... SEC taking dramatic action ... will allow suing companies that fail to account for global warning risk ... time to look at GS holdings ... Gov never thinks over the unintended consequences.

It's true, it really is. take a look:

http://blogs.telegraph.co.uk/news/geoffreylean/100024355/companies-must-...

This is so LOL on so many levels

Sat, 01/30/2010 - 11:50 | 211840 Anonymous
Anonymous's picture

Thanks for bringing this up. Interesting development. The ruling itself might not have much impact, but it does foreshadow things to come, as most small things do.

Couldn't find this in the normal media channels though, so have to confirm its authenticity.

Sat, 01/30/2010 - 11:12 | 211824 Anonymous
Anonymous's picture

Big vol everywhere on close. Order imbalances on some names as well. Wholesale selling. Where do we go from here?

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