This page has been archived and commenting is disabled.

S&P Spoils The Low Volume Unsupervised HFT Algo Melt Up Party

Submitted by Tyler Durden on 04/27/2010 11:21 -0400

It took the Goldman HFT algos 5 minutes to find Portugal on the map. S&P, with all the finesse of a drunk, pre-BofA acquisition Merrill bull in a CDO store, comes in and spoils the party. Although with volume non-existent, we expect the market to go straight up in a straight line once again as the selling volume dries out.

- advertisements -

Tue, 04/27/2010 - 11:24 | 319701 Racer

dax fell off a cliff

Tue, 04/27/2010 - 11:24 | 319703 HarryWanger

Yes, you will see a volume surge buying anywhere near 1200 SPX. This has been established as very strong support. It's a very easy market to trade on these dips.

Tue, 04/27/2010 - 11:28 | 319718 taraxias

So much for your "green day" call muppet.

Tue, 04/27/2010 - 11:45 | 319726 Dixie Normous

You know, Hairy Wanker, I find your comments here on ZH somewhat refreshing because it's a sign that a real market may be on the horizon, where bulls and bears actually fight it out at support and resistance levels. As opposed to what has gone on for the past year or so, where bulls have been allowed to roam freely, if not aimlessly, while bears are hunted down by the man in the helicopter.

Comments like "it's easy to trade on these dips" give me hope that we may one day see a real market return.

Tue, 04/27/2010 - 11:46 | 319729 yipcarl

Really GUY? What happened to your 'easy' trade. When people use 'easy' and trading in the same sentence their either lying, stupid, or a rookie. So much for your support level genius.

Tue, 04/27/2010 - 11:47 | 319731 reading

Well, Harry you were right. Volume did surge...to the downside. You should definitely keep on buying.

Tue, 04/27/2010 - 12:25 | 319757 HarryWanger

1087 is maximum pain. And yes, I am buying - AAPL in particular.

Tue, 04/27/2010 - 15:49 | 320283 yipcarl

whoops

humble yet?

Tue, 04/27/2010 - 16:46 | 320425 mephisto

How much is an IPAD going to be in Euros? Sales may disappoint...

Tue, 04/27/2010 - 11:52 | 319738 ZakuKommander

"Volume surge buying"? In what alternative universe?

Tue, 04/27/2010 - 11:56 | 319746 Al Huxley

Well, that's the problem with support - when it fails it can be a long way down to the next level. I'm guessing a rebound at 1150 - 1160, corresponds to the 50dma and last resistance before the latest little run. Nature of that rebound will tell alot about whether the bull is dead or this is just a healthy correction. Although the Newsweek 'America's Back!' cover makes me lean to the 'dead' side.

Tue, 04/27/2010 - 16:33 | 320400 Real Wealth

by HarryWanger

Yes, you will see a volume surge buying anywhere near 1200 SPX. This has been established as very strong support. It's a very easy market to trade on these dips.

Did you change your avatar? Wasn't it real picture of you with a buffoonish smile that, combined with posts like this, made one want to bitch smack you with a bag of silver rounds?

Tue, 04/27/2010 - 12:49 | 319797 yipcarl

1187 was support all along Harry. Please refrain from using words like 'easy' when it comes to trading it makes you look really dumb.

Tue, 04/27/2010 - 16:48 | 320428 mephisto

Tue, 04/27/2010 - 13:02 | 319823 Strider

Its time to trade the news again, not lines on charts.

Tue, 04/27/2010 - 15:08 | 320205 Grand Supercycle

Just uploaded Dow weekly chart showing a bearish broadening top pattern.

And Euro is breaking down now.

MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0

Tue, 04/27/2010 - 16:16 | 320357 The Axe

As per Tyler---Europe just bitch slapped today---with the French getting a 4% enema. You would think the euro would fall below 1.30 soon.. Of course US volume was large today(down today of course) Tomorrow CNBC will tell me Europe going to hell, is great for US equities...lol

S&P Spoils The Low Volume Unsupervised HFT Algo Melt Up Party

Comment viewing options