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Intraday SPY Volume Surprasses Yesterday's Entire Volume Before 2PM
The sense of market urgency can be seen when comparing yesterday's and today's market volume. All of yesterday's SPY volume was surpassed by 1:30pm. Today's key support level is 105.59 which is the September 31 closing price, and which has already been taken out: the next support is 104 (which was tested once already), with 102 next below it.
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Smells like Geithner really needs this new permanent bank bailout plan to pass, so they're allowing reality to return.
We're hearing some dollar intervention has taken place...
Anyone else got more, than just the whispers were hearing.... ?
A bounce off 102 might set up a RS at 107, which could lead SPY to 94.
Could it be daily whipsawing is the new normal?
WOPR has come alive and every computer screen at GS and friends has the following message splayed across the screens.
SHALL WE PLAY A GAME?
At the same time, Ben is on the phone screaming "More power Lloyd, I need more power. Give me all she's got."
"she canna take much more o' this, Cap'm!"
HOW ABOUT A NICE GAME OF CHESS.
Typing in GLOBAL THERMONUCULAR WAR. :-)
I know I misspelled Nuclear. 8>)
You got a heh on one yesterday....
The fiatcos must be spewing out of the printing press like crazy to arrest this fall.
Transports will make a run for it if oil slips. Money never seems to come out but just shifts. Prepare for a whole slew of upgrades from the banks on Monday.
I think the Hot Donuts Now sign has been switched on.
From RAN Squawk, above and to the right of this box:
10-30 12:24: Market talk that S&P fall in the last 30mins linked to European portfolio managers taking some off the table linked to YTD performance
So they just decided to lock in some YTD gains at 6 PM on a Friday, it couldn't have anything to do with worrying about their exposures over the weekend.
overall NYSE volume is still half of yesterday's. Interesting about the SPY volume though, it seems like a targeted set of people are dumping yesterday's buy-on-the-dip, but the rest of the market is holding steady, hoping for a bump up on Monday.
Lets see how the last hour and a half plays out. I think Sharts is all over it above re: reducing exposure over the weekend
Now hopefully the market follows through next week
I wouldn't be surprised, because I'm sure that big of a point drop of the DJIA will make headlines; which will likely foment fear among dumb money. I bet next week will be a busy week for financial advisors. Eh?
"Intraday SPY Volume Surprasses Yesterday's Entire Volume Before 2PM"
This is relevant how?
How come the shock and awe every time the down day volume is higher than the up day volume?
Someone get the sleeveless jacket for Jim Cramer - you know, the one with all the straps and buckles.
Off topic, but this is a pretty good read, especially for those in the deflation camp
http://theautomaticearth.blogspot.com/2009/10/october-30-2009-interview-...
"In my opinion, we stand on the brink of truly tragic circumstances."
No wonder the NYSE gagged
Could somone enlighten me on the 31 days in September thing? :)
Solid play at shortstop
low volume on up days, big volume on down days
lets just hope those HFTs keep "providing liquidity" if things ever really turn sour (ahem)
Die Stocks DIE!!!
+1
I distinctly remember someone saying there's billions waiting to get in.
Yes ... Short
Aaand we have liftoff - Gold rocketing, stocks not so much. Benny still trying to lift stocks so he can claim..."oh but Gold rises with stocks". Not anymore Ben - not anymore. Take your shit (stocks) someplace else. Deflationists pretending to be gold-bugs CRUSHED.
It's gonna be a slow grind, but more and more we will see this sort of thing.
Gold is down, what, a buck right now? Barely measurable percentage? Stocks down 3%?
chip, chip, chip, chip, chip away.
Deflationists like gold. Why are you a hater. In the end, gold is money and that's where deflationists lie. GOLD is the ultimate deflation tool as you can't print it-just mine it.
It goes like this in a deflation:
-Delevering crash(2008) and the implosion of money supply. Credit =money. US dollar is a credit system. Private credit=13x public credit-so net loss in money supply is HUGE. No printing can compensate for that. It's impossible
-Government adds debt by creating bonds-which supposedly adds to money supply. That "money" printed does not make it to the public.
-Divergence. Hyperinflation is impossible as the bond holders revolt and yields crank up. Yields make dollars harder to borrow. Deflation death spiral comes back(see last 2 weeks.)
-Lack of senior currency in credit and liquidity creates crash.
-Gold which tanked against US dollar NOMINALLY, now begins a move up in REAL PURCHASING POWER because it becomes more liquid and tradable.
-Gold becomes secondary currency as dollars are hoarded.
As a gold bug, track the REAL BUY POWER OF GOLD against stocks and oil etc. Not against paper. that's where gold hauls ass.
Gold holders, hang on and back up da' truck
I feel like Mel Gibson in "Braveheart"..........Hold.....hold....hold.....NOW. I hope this thing doesn't whip back. Good luck everyone.
What is everyone thinking? Down Friday=Down Monday?
Goldman figured out how to run the HFT computers and HAL9000 in reverse!!!! GET OUT WHILE YOU CAN!
sunday night saves, dow down in the hundos - wow feels like old times - anybody see fuld
Gekko is deluded.
I think you mean disillusioned. Quick illusion him back up. YOU CAN DO IT!!
http://www.youtube.com/watch?v=VZ2HcRl4wSk
This is all doing of evil high-frequency traders. Ban the clown dumbass (curbyourrisk).
Is the bear market rally ending ?
The DOW bearish rising wedge continues to converge ...
http://www.zerohedge.com/forum/market-outlook-0