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Market Volume: Compare And Contrast
Tim Smalls, head of trading at Execution-Noble was just on TV, saying that there is no volume in this meltdown and this should be disregarded. We wonder just what kind of trading Mr. Smalls engages in: we hope it's the kind that actually shows price AND volume, because to us things seem a little different than what he asserts as fact on the cable station (with a declining audience) that will actually carry him. Below is the PV cumulative divergence chart of ES: we wonder if Mr. Smalls, who is unlikely positioned well in today's action, would also say we should discredit all the prior up days this week that occurred on far, far lower volume as well. Furthermore, as the entire bear market rally and forced short squeeze over the past year has been on consistently declining volume, is the market's FV really still 666?
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Biggie Smalls?
Really though, the "lack" of sellers will be quite disturbing come Monday or Tuesday.
Because those folks on vacation this week in NY return home.
Good point. I know a few people in the "bidness" who are off this short week. Regardless, it's becoming clear that the trend, which is always our friend, is down.
Funny, I was thinking "Derek Smalls".
It's gooooooood to be short!!!
Long SDS since 1200 SPX. Rock and roll.
FV is 333, but for 401k money that started pouring into equities since 1982.
He's just hypnotized:
http://www.youtube.com/watch?v=wk4ftn4PArg
vix weekly bullish cross about to join vix daily bullish cross
i imagine this will coincide with a little bit of volume
a picture is worth how many words? hehe.
Take note: see what $1T bailout and a short ban buys you.
And this is minimal volume. Imagine when the EVENT comes. Bulls must be falling over themselves buying dips.
It's the battle of 1066 at the moment.
FV probably is 666 but we will continue to live in denial just like the propaganda machines have facilitated even more so the whole presidential administration.
pretty sure Obama HOPES we don't get there during his last leg as president
Alright Tim Small, FAZ has 70 Million in volume today so there is volume, is not in your stupid bull stock portfolio.
Tyler, guys... How can we confirm if the volume is fleeing from the S&P and "classic stocks" and landing in the ETFs (bear market ETFs)?
Selloff in the end?
That fuckin Smalls guy is a douchebag.
You beat me to it. I was going to say "One word - - Douchebag"
I blame the parents
2.8M contracts in the ES is more than the 2 proir up days. Look at the huge down volume its undeniable.
Edit: over 3M contracts
Tim Smalls thought this screen was a snapshot of Missile Command..
Volume picking up at the close...
Closing on the lows, hopefully below 1060 would be EXTREMELY bearish. 1040 is pretty much a guaranteed retest at this point. After that, 865.
Also the stimulus ending will shave off more starting on monday.
Live by the volume die by the volume...
Why does CNBS bother its viewers with another unknown OPM-gambler's views? They need to give santelli more air time.
Lets see:
FAZ 76 Million @ 16.8 USD = 1276
JPM 40 Million @ 37USD = 1480
GS 13 Million @ 142USD =1846
EFTs are taking a big share of the money from classic stocks, Bearish for stocks I think.
Good point, I never really thought of that way. Aren't most of the leveraged etfs just derivatives?
Yes, most if not all of them are derivatives.
Turd gets his wish:
by Turd Ferguson
on Fri, 06/04/2010 - 11:18
#394961
Wow, this is really starting to wash out.
Personally, The Turdman is hoping for a -400-500 loss for the Dow so I can watch/listen to all the hand-wringing and angst all weekend as we wait for Monday.
Since there has been LOW VOLUME on the way up in this circus of a market, how can there be nothing but LOW VOLUME on the way down?
Easily: As more traders get exposed to the increasing low-price pain, I can't imagine that the swift exit to the stairs won't generate a Whole Metric F**k Ton of volume on the way down.
How bout the fucking dumbass currently on CNBS. Even Maria Headiromo couldn't let him get away with his "overdone" nonsense. What a dick! Head-in-the-sand BUFFOON!!
Glad I don't watch tv anymore, that shit pisses me off.
Yes, it really makes a difference. I gave it up about 6 months ago.
9 months ago. One my best decisions.
THE principal source of our indoctrination and conditioning is the boob tube. I have not met a single person who has given up TV and didn't feel much better. And I easily know 10 who have done so.
Congrats all for pulling the plug. BRAVO!
Thanks
PHYS just took off after being down most of the day.
It's the ONLY thing to own. Even the miners will be washed back in all of the liquidity-based selling that is coming. If you want to participate in gold by owning an ETF, it is your ONLY option.
Seems to me that the worst thing a trader can do is watch TV while trying to trade. Maybe it's just me.
unless your watching porn!
Watching charts from today is better than pr0n. Less mess, more excitement.
Seems to me that the worst thing a trader can do is watch TV while trying to trade. Maybe it's just me.
Set targets, put in orders and leave it alone. I make better money that way then when I'm interacting based on news, etc. Psychological effects and intra-day price moves override my original judgements which generally costs me money.
+1
I don't even set price targets. I set time targets. Let the statistics wash out the upside and downside extreme events. Much better than trading on reaction to real-time data. I've lost a lot trying to do that.
Melt-up on low volume is to be bought, meltdown on low volume is to be discarded.
Got it.
(I would have also said douchebag but others beat me to it)
I'll say it again DOOOOOOOSSSSHHHH Bag!!!!!!!!!!!!!!!!!!!!!
+10!
...is the market's FV really still 666?
Not to me it isn't.
Taking him at face value, I look at the price-volume action since start of the year, and every really BIG selloff on large volume was immediately preceded by a smaller selloff on lower volume. So if that's the case and this ISN'T the BIG VOLUME selloff, then it will be arriving probably on Monday, and maybe we get a 'flash-crash' rerun.
Think I misread the first sentence - disretarded?
I found the selling waves after 2pm today to be out of sync for some reason.
They still ocurred, but were off by at least 5 minutes from the usual.
Has Leo shown up at all today? If your out there, could you analyze your miss on this one. I would love it if we were out of this morass, but here is another distribution day. Will we get another low vol melt up to burn the shorts?
What you talking about Willis? Whales humping or seismic anomalies? Clue us in on this out of sync business?
Expect something On the weekend and possibly a gap up monday. Strong buying at tpdays close
what's pathethic is the uber bears like Tyler think none of the earnings were real the last 18 months. they forget it all as soon as they have a couple good days in a row
it wasn't a short squeeze and nothing else. they plowed FCX to 15s at the lows in liquidation and this company earned MANY DOLLARS a share in EPS within 10 months
APPLE grew the whole time and kept on selling products while everyone who follows money thought the world was over
again, no short squeezes cause people to buy copper nor iphones
its completely ludicrous to blame the bull market on manipulation and short squeezes and PPT ALL the time and then say there is no manpulation, rumor mongering like on this site, etc when markets go DOWN big.
The lack of proper grammar usage and spelling in your post only reinforces your stupidity. Not to mention that "MANY DOLLARS a share in EPS within 10 months" doesn't necessarily help your argument neither.
Fortunately for you, this site is rich with content that is not found in your daily mainstream media sources. So instead of bashing Tyler because you lost some money, read the posts and make your own conclusions. Who knows, maybe you might learn something...
does anyone know if the PV cumulative divergence chart can be created in tradestation?
Monday will prove to be quite interesting, barring some enormous purchase of eastern European bonds by anonymous buyers, and intervention in the collapsing Euro.
This neurotic market has been completely hijacked by robots and will do whatever it is told by the big five.
I wonder if Cramer peed in his pants yesterday?
Hilarious. I just got shot in the face with a 30-06, but it was by accident, so I'll just disregard it.