• OTC Derivatives: Is the DTCC Too Big To Fail?
    rc whalen
    02/09/2010 - 08:06
    At our firm we frequently receive calls from clients and readers asking about the likelihood of the passage by the Congress in Washington of reform legislation regarding over-the-counter (OTC) derivatives, financial regulation and/or mortgage securitization. Our answer is small to none given the political trends and the state of the lobbies in Washington, most specifically the large bank lobby that protects the Sell Side monopoly in OTC derivatives and securities. The fact that Senator Richard Shelby (R-AL) is still apparently not comfortable with the entirely watered down House proposal to reform OTC derivatives, for example, tells you all you need to know. Stick a fork in it.
  • Greece Implements Pension Reforms
    Leo Kolivakis
    02/09/2010 - 08:44
    Greece just implemented pension reforms in an attempt to shore up its public finances and others will follow suit...
  • Why Casinos Deserve Our Trust More than Banks
    smartknowledgeu
    02/09/2010 - 02:23
    Today, casinos have much more integrity in their business dealings than do banks. In general, casinos have more cash and more transparent business dealings with their clients than do banks. That's why it's so ironic that most large commercial banks, as part of their "moral code", do not allow private bankers to do business with casinos. It appears today, that the bankers got that one entirely wrong.

Lowest SPY Volume Day For 2009

Tyler Durden's picture
Submitted by Tyler Durden on 08/10/2009 15:46 -0500



The SPY just hit a 2009 low in volume, and markedly below the comparable period last year.

NYSE volume also dropped below a 100 and 200 DMA, and declined materially from the prior week's volume increase.

hat tip McBlondy

4.8
Your rating: None Average: 4.8 (5 votes)

»


by Joanito
on Mon, 08/10/2009 - 15:48
#32012

Green shoot

by deadhead
on Mon, 08/10/2009 - 15:51
#32018

Turn those machines back on, damnit.

by Nolsgrad
on Mon, 08/10/2009 - 15:52
#32020

Rally Time!

 

http://www.youtube.com/watch?v=Osg3u_UFgIo

by Comrade de Chaos
on Mon, 08/10/2009 - 15:53
#32022

hi, i am your new friend, low volume - profit generator robot "awsomo." I will handle all of your portfolio re-balancing and trading needs. At the same time, I'll lower your overall transaction costs. And don't you worry, your secrets and strategies are safe with me...

by RatherBFlying
on Mon, 08/10/2009 - 15:59
#32033

Gee, Awsomo... you're my best friend.

by IE
on Mon, 08/10/2009 - 15:59
#32032

Low volume = no buyers = bullish signal = green shoot?  Or maybe wilting shoot?

I think I'm smelling stimulus 2 coming to a country near you in Q3 ... to put another 25% of icing on this cake before the bluebird of fundamental happiness comes in & craps on it.

by cougar_w
on Mon, 08/10/2009 - 16:26
#32076

u r 2 funny

by MinnesotaNice
on Mon, 08/10/2009 - 17:35
#32182

I agree that Stimulus Two is coming our way... there is too much chatter being put out by the Administration that it is not coming... they are floating it out in the media for discussion, to test the concept, and get the sheep used to the thought that there could be a Stimulus Two... so when it happens the masses will willingly follow.  Along the same theme as the "stress tests" that were talked to death until it was a non-event.

by Sancho Ponzi
on Mon, 08/10/2009 - 16:05
#32041

Simple: All the money got diverted to Freddie Mac;)

by Ned Zeppelin
on Mon, 08/10/2009 - 16:07
#32045

Does anyone have a thumbnail number to put on the S&P p/e ratio as of the close of Q2? Understanding that frail retail numbers are yet to be heard this week.

by Anonymous
on Mon, 08/10/2009 - 16:13
#32054

Shouldn't the Cash for Clunkers program artificially pump up the retail numbers this week?

by Anonymous
on Mon, 08/10/2009 - 16:43
#32111

At today's closing of 1007.10, the S&P 500 P/E ratio based upon Q2 Operating earnings (88% of companies reported) is 27.60. Q2 As Reported earnings P/E is 141.92.

by deadhead
on Mon, 08/10/2009 - 17:23
#32163

clearly a steal at those ratios.

by Ned Zeppelin
on Tue, 08/11/2009 - 20:40
#33436

Thank you. What do you think of those ratios?

It always rains in September, around the middle of the month.

by Assetman
on Mon, 08/10/2009 - 16:17
#32057

I'm thinking low volume in SPY and the equity decline today was a test. With a lower market, would there be support for the dollar and lower Tresury yields (it helps as auctions are upcoming)?

Mission accomplished.

Now, the Fed can commence buying Treasuries around the auctions and weaken the $ until we get to QE decision time in September.

by Sancho Ponzi
on Mon, 08/10/2009 - 16:26
#32070

Roger that, Assetman. BTW, has anyone else noticed the recent grand scale disappearance of Obama bumper stickers from the boots of cars?

by Anonymous
on Mon, 08/10/2009 - 16:35
#32103

They should be replaced with:

Hey Lyndon Obama!
No Vietnamistan!

by Anonymous
on Mon, 08/10/2009 - 18:18
#32238

They were all recycled with the cash for clunkers cars.

by Anonymous
on Mon, 08/10/2009 - 18:45
#32272

hahaha - beautiful

by ivant
on Tue, 08/11/2009 - 07:32
#32650

brilliant!

by Anonymous
on Mon, 08/10/2009 - 22:01
#32471

do you live in the south?

by Anonymous
on Tue, 08/11/2009 - 00:01
#32547

nailed on head waiting ,hoping for all this to end.so we can rebuild. thank you.

by kote
on Mon, 08/10/2009 - 16:31
#32090

Weren't prices supposed to go up on low volume?  What'd I miss here?  Are we switching to high volume on up days low volume on down days?  This market already is nowhere near making any sense... sigh.

by Screwball
on Mon, 08/10/2009 - 16:34
#32099

Off topic - Fast Money just had a guy on talking about HFT.  Might want to check that out TD.

by Anonymous
on Mon, 08/10/2009 - 16:51
#32123

dang ... spring of yesterdays lows on teh daily spy ... drop in volume but but but but traded below yesterdays low and closed well ... not a bearish bar imo. expect follow thru higher tomorrow as high as a secondary test of last weeks high ...
and then we wait and see if supply shows up ... imo just because we have light volume and are trading higher that is not bearish ... there are no seller to thwart the advance so higher on lighter volume is no big deal imo. bwthdik....
I guess the one thing we might want to be watching is for an hourly bar that trades more volume than the opens hourly bar..
so far we have not see that off the march lows ... that happens and we might LOL be getting close to a top.. good lord why dont I just go with trend.

by Anonymous
on Mon, 08/10/2009 - 17:23
#32162

Goldman Sacks HAL 9000 was hiding in a closet today to avoid getting papers served on him.

by Assetman
on Mon, 08/10/2009 - 21:34
#32438

I wouldn't go quite that far, anon... but they were pretty quiet on the whizzbangs today. 

Someone did a little gunning in the last hour, obviously after the T-market shut down for the day.  Let's go down... just not too far down.

by Anonymous
on Mon, 08/10/2009 - 17:42
#32193

TTM PEx (mostly GAAP, some non-GAAP on some high growth tech) of my portfolio was a little over 12 this weekend. yawn

by Anonymous
on Mon, 08/10/2009 - 18:15
#32236

NO One buying either, once we get confirmation SELL want to see who is going to hold up the floor.

by newera22
on Mon, 08/10/2009 - 20:06
#32351

I definitely agree with you Anon 32236. People all holding to see how much more money Tim and Ben can print into their account. Once the party ends everyone showing up at the Valet line at the same time. Usually, these types of parties have lots of valet drivers (shorts) to help the customers. But times are tough for the shorts and there won't be anyone around like usual. Shorts are doing buy and hold now. Market would have to drop at least near 1000 points before shorts might even be interested in covering. There's nothing left.

by Anonymous
on Mon, 08/10/2009 - 20:22
#32366

The one thing that should really worry people about this rally is what it's doing to shorts. If you have shorts sitting on the sidelines or going long because they keep getting squeezed and it seems that no matter what that this rally will continue despite logic and fundamentals things are really really getting out of balance. You're going to end up with a scenario in which the only sellers are longs who won't buy on the way down and there are no more shorts to cover on the way down and cushion the fall.

by Anonymous
on Mon, 08/10/2009 - 19:23
#32319

Bullish comments on the S&P 500 from BAC and C equity strategists today.

Are they pumping it up prior to a dump? Time will tell.

admin
http://invetrics.com

by newera22
on Mon, 08/10/2009 - 20:03
#32349

Lower volume means taxpayers purchasing less S&P futures to prop the market up. Green shoot. Tim and Ben's Excellent Bubble of '09 lives on.

by Anonymous
on Mon, 08/10/2009 - 20:33
#32375

All hail the Obamatron and his bail out bubble!

by nogeithner
on Mon, 08/10/2009 - 21:13
#32401

dang ... spring of yesterdays lows on teh daily spy ... drop in volume but but but but traded below yesterdays low and closed well ... not a bearish bar imo. expect follow thru higher tomorrow

The Rich says"

good articles; finance news & opinions

by Arm
on Mon, 08/10/2009 - 22:09
#32459

Low volume of course means even a grandmother buying or selling shares will move this market.  Up or down.

by Anonymous
on Mon, 08/10/2009 - 22:27
#32499

This is just a case of fool me once shame on you. Fool me twice shame on me.

by Anonymous
on Mon, 08/10/2009 - 23:51
#32543

Bears are worn out & the bulls are in...

that's why there was no trading today - market equilibrium.

by Anonymous
on Tue, 08/11/2009 - 01:20
#32569

NO more flash orders...no advantage....stop the computers

by Anonymous
on Tue, 08/11/2009 - 03:39
#32594

The volume isn't that bad YoY. 880m shares on the SPX versus 990m last year. No idea why you obsess about an ETF instead of the actual Index.

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