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NYSE Volume Abysmal: 40% Below Average
Call it the no volume melt up, edition XYZ. Total NYSE volume 8 minutes before close is 662.15 compared to an average of 1133. In other words today's latest market upswing is due to market participation that is 40% below average. Don't look for any bank to make money on commissions with days like today. Which unfortunately is increasingly more what the typical daily volume is starting to look like. And with the curve starting to flatten, soon none of the banks "adjusted" drivers of top line strength will be much of a factor. Let's hope that M&A activity picks up or else Q1 financial earnings will be, just like in Q4, only up to par due to another multi-billion "reserve and NPL reduction" accounting scam.
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All it's going to take is one big black swan and then POOF; whatever is left of American equity will be further dimished.
no black swan needed. just need W&R to sell a block of 3 ES contracts at market and poof.
Or Ben getting hit by a speeding car while crossing the street.
Where is one of those smart cars when you need them?
Your Bloomberg is showing the volume with 24 minutes left in the trading day and you are comparing it against other days' entire volume. Notice in the upper left hand corner where it says DELAY 15:36.
The last half hour is among the most active trading. This post seems misleading.
The Bernank's lip quivers and beard twitches every time he crosses a street...
Does this mean that "smart" munney reps the 60% ?
Unexpected events are about 50 50 positive to negative. Those who have a fear response when they hear black swan cant invest objectively.
Maybe banks are making money in currency trades ?
Is that where all the volume went ?
the black swan is marinated in Ben's BBQ sauce now.
Superbowl Hangover?
.....yes, called a thousand large on the Steelers +3. My bad.
On the bright side, they wouldn't be worth squat soon.
We ridiculed a bandwagon-eer fair weather fan with a brand new Packers jacket on today...
I enjoyed myself...
Not a "market" - please refer to it by it's proper name ---> Political tool.
Everyone is waiting for the dip so they can fucking buy it
No dip for the dipshits. Buy the fucking ramp... BTFR.
BTFPRB - Buy the fucking parabolic ramping blowoff...that never blowsoff...til it does.
Just where is the f'n "ramping" ???
...this low (pitiful) volume makes a mockery of the myth the Fed are pumping in mountains of counterfeit money to float the Indexes!!!
Another myth busted ...Reality Bitchez
"Let's hope that M&A activity picks up"
I know this is somewhat sarcastic. I lost count of the number of times a deal "weekend" was pronounced as the start of another M&A wave.
No one cares about this market anymore...
M&A is one of the favorite things to talk about for the CNBS chuckleheads, it's an extend-and-pretend safety zone where everyone can play happy until next commercial break.
No one watches CNBC. If a tree falls...
weird day. kept looking at the indicies and trying to figure where the action was - a few drillers. many other recent movers were flat
XLF
Low volume is obviously a silly indicator for trading.
www.nacocapital.com
ah - have no financials on my trading screen
if no volume and a float up why do i always lose money no matter what i buy long or short rigged
You have got to buy and sell at technical extremes. If you want to play something two days before a mostly benign earnings report buy psdv. I just went in for 5000 shares at 5.09 plus the goldman subpenny.scalping.
stay away when no volume - than robos kill human easily. in general, whole manipulation on most of markets is exceptionally possible because no volume.
Powerz know that very well and count on that.
Except in small low information companies. Look at psdv. The real people dont want to hold it until earnings day. Not enough price/volume action to interest a machine. This is a nice little inefficiency to pick up. Hell yeah i am talking my.book.
What does volume have to do with the market ?
As long as it keeps going up who needs volume ?
sarc/
The sarc tag wasn't necessary, youre exactly right.
I've been reading the 'OMG. LOW VOLUME MELTUP' posts here for almost 2 years now and the fact of the matter is, price action always wins. Whether the meltup was low vol or high, who cares - its there, and the values are what matter.
Now, on any downswing (i.e. egypt friday over a week ago) the volume clearly crushes the up volume, but thats becuase everyone is trying to be a hero and call the top at the same time. And id bet some of the same shorts that were selling that day still haven't covered and they presently find themselves about 50 handles in the red on ES. Who's the sucker here?
The bears are trapped in the black swan melt down event of 2008. Price action is price action. By puts if the bears dont like the action. And see the paper $ vaporize.
This market reminds of this famous quote from none other than-
Mugatu: SHUT UP! Enough already, Ballstein! Who cares about Derek Zoolander anyway? The man has only one look, for Christ's sake! Blue Steel? Ferrari? Le Tigra? They're the same face! Doesn't anybody notice this? I feel like I'm taking crazy pills! I
-One look!
Magnum
-It's Glorious.
And this market makes me feel like this quote-
Mugatu: Todd! Are you not aware that I get farty and bloated with a foamy latte?
In other words, the equities exit door is getting smaller by the day.
It's not a stock market for investors anymore. The SEC has destroyed the true catalyst for jobs growth with no regulation. Let the dark pools with closed eyes, HFT's need for speed, and flash order rapers proceed as always and strip total control from everyone but themselves. Eventually, the wolves will have to eat and hopefully they devour themselves all the down to oblivion soon enough. If fact, the sooner the better with their quote stuffing diligence.
...and in related news, $840,000 in benefits is paid out to deceased City of Buffalo, NY employees:
http://www.wivb.com/dpp/news/buffalo/Questions-over-dead-employees-benefits
So? I Got That Beat
Bloom-Douche-Berg spent $250k in taxpayer money last year for the salaries of his 3 personal chefs...
That's mighty pricey Kosher there Mayor Bloom-Douche...
You get better odds at a craps table.
PigMen plan on walking up the tape on low volume until every bear like Tom O'Brien throws in the towel on short trades he has held for 6 months.
so if this is the case, and you know it in advance, then why did you write a post as contributor saturday last wondering if the market had topped?
in addition, since calling the bottom was so easy, given that you made a fortune off the 2009 lows unlike rosie, then i suppose you'll be able to time the top and make a second fortune on the way down.
btw, is gentleman jim a dolt today, or a sage gold bull given your earlier post that commodities (gold and oil you said specifically) were about to launch?
Hey robo i dont know if you like to play catch a falling knife but look at price and volume action on psdv. The earnings report should have no negative surprises. This was irrational today. You got all night to look it up and think about it.
Number ONE of Ben's 10 commandments (isn't he doing gods work?):
Thou shall not have a down day on the Dow.
begrudingly let go of HOC today. prob will regret
Sold TSO VLO WNR myself today. 3 month holder.
Who would have known that the Cheeseheads accounted for such a large percentage of daily volume ...
This market is getting tired and with earnings season almost over I cannot think of any catalyst to keep going up without a sizable correction. Today's action not encourging despite the low vol. After the initial gap the indexes trended down towards the close except for a brief spike after the consumer credit then contiued downward after the close. Going long here is pure gambling.
Current top headline on CNN.com:
Merger Monday sends stocks climbingWeeeeeeeeeeeeeee!!!!!!!!!!!
So you show volume with 8 minutes left but what was final volume? Considering first half hour and last half hour are the busiest, 8 minutes could change the final tally significantly. Just trying to keep it real.
Believe me, they will keep it going until the retail investor is back in. If they have to take the Dow to 25,000, they will do it.
I got stopped out of my shorts today. I bet the Pigmen will engineer a 10% correction that will happen overnight. Anyone long overnight will be fucked.
How nobody is talking about the PIIGS anymore? I keep waiting for the headlines about Spain but so far all quiet.
Combine the lack of volume with the bull market riding on margin fumes...
Why are they making bonus payments an issue over in Europe?
It won't matter in a few months.
Well, on paper it will all look great but in reality.. THERE IS NO MONEY!
Silver is telling the story.
Blame it on the weather. Oh check out the Baltic dry.
With SPY RSI being 70+, I see the gap-up today being filled very quickly over the next day or 2.
Gaps are for geeks. How about those two aborted plunges in the last hour?
low volume = plateau + short selling to begin = correction.
low volume = put a bid in low to catch those afore mentioned plunges
Happens to the upside, too, on these low volume days.
Scarier than cit to play, though.
yeah but we are small frys :)
say some mega fund shifting 70% to short position the rest long.
I play the market to buy some can beans and maybe some good quality scotch whisky or tequila...
no one want to trade, game is fixed, period.... call me when they turn off the lights
SPX
Channel.
http://99ercharts.blogspot.com/2011/02/spx_6399.html
http://www.zerohedge.com/forum/99er-charts-0
Hey, who unplugged the HFT servers?
nah they are still running, just waiting for that mass short light up.
beginning of the end...you can feel it
How low can the VIX go, and how long can it stay there?
Was up yesterday thanks to some premium buying..