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The Tide Goes Out: NYSE Market Volume Plummets To Second Lowest Of 2011 Following Citi Reverse Stock Split
Now that HFTs are scrambling to find something, anything to replace the rebate-collection piggy bank that was Citi between $4 and $5, so far unsuccessfully, we get a glimpse of just how critical to the overal market HFT non-volume has been. In the first day of Citi trading post-split, total NYSE volume has now plunged to the second lowest level of all of 2011, eclipsing even low volume semi-holidays. And since none of the Citi "volume" was real volume but merely rebate collection churn, the broader public will finally understand what a complete sham "participation" in this centrally planned market has become. And for all those looking for some surprising pick up in commission revenue for the big banks, below is a chart of the inverse.
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Lots of new folks around her (myself included) don't really know how to interprete this information. Anyone care to translate to sheeplese?
Buy PM's.
also known as:
Gold, bitchez.........
Kushmere must be timmays new ID trolling for laughs.
No fair. I can't think when I look at your avatar.
its trading volume in millions of shares..
BTW- 420 always works as the gotcha answer
Google.
http://www.thestreet.com/story/10978976/1/trading-in-citi-is-a-whole-sub...
Stay away from bankstocks!!!
Citigroup needs à 10% div to survive. And even with this trick which Will need to bring Citigroup stock down to 5$ Will make it temp. It won't in THE long run.
Bank earnings keep going down!
THE do this to see if pm's Will go down.
In THE 80's bank div's of 10% where used to lower gold because THE could generate more earnings than THE gold rise.
But now THE fundamentals lack.
Banks Will keep dropping. Bac Will soon do THE Same as Citigroup to try to raise THE div.
THE stocks Will be à Hughe short play!
Don't forget That now they Will give 10 cents per Q.
1%!
It must drop 90% to give 10% returns!..
kushmere
Very low volume means few bids in the market and very few actual bidders.
Only action in market is generated then by high frequency machines trading whole sectors and large cap names. However, when "risk off" button is pushed on these machines, low volume goes to no volume and prices drop on air pocket of bidless free-fall, e.g. flash crash. Indeed, these machines are programmed to sell as prices take out lower levels so a negative feedback loop ensues.
Whenever you hear the market is on sound footing, check the volume stats. If things move higher on heavy volume, then market is strong. But that hasn't been the case for some time now.
the other point is that banks that have trading desks make comission on trades, meaning low volume equals lower profit. Not all banks have these operations, but the TBTF do. So, among other reasons, don't buy the TBTF banks.
kushmere
DICK Bove says this stock will triple in 3 years. You should buy with both hands.
#1 You are not a sheeple
#2 There is no spoon Neo (a.k.a. market, just machines)
#3 You may now go back to sleep...all is well...all is well...all is well...
When you phrase it like this, even i feel uncomfortable.
when in doubt make love to your wife
.
I still don't understand why people don't focus on market value volume rather than number of shares volume?
THE hypno powers of historic charts.
Just look to Yahoo how THE lemmings go nuts on Citigroup
because its easier for HFT to make 0.001c on each trade x 1m trades a day on a $4 share vs trying to make 1c a trade on 100,000 shares on a $40 stock.
it's 'liquidity' as HFT's like to claim. you know.. like how there was massive liquidity on May 6 2010. HFT's 'got our back' and provided needed liquidity to the market. bids at every price... some such.
$5,000min degenerate prop traders are having a hard time rebate trading a $40 stock
Sheep getting wise very slowly. Leaving rigged Casino and headed for metals.
Why, because those markets aren't manipulated?
Precisely because they are manipulated. It's great to buy physical bullion when manipulated lower and suppressed for a generation.
Between the CME hiking marginal reserve requirements from 9,500 to 21,600 (5 times in one week) and the treasury secretly telling commoditiy traders to advise clients to sell their gold and silver, I don't know where the fuck to go. JPM must be brought down before they take everyone else out with them. SLV LIBERATION ARMY!!!
i vote for CROX
Date Price Volume
May 9, 2011 44.16 48,675,817 (reverse stock split)
May 6, 2011 4.52 512,725,500
10-1 reverse stock split. 90% drop in volume. Seems right to me
Normacol?
Take two Scamagains™ and call your broker in the morning...
Robots will have to go back to signing deeds for a living.
Maybe they would be be better off crunching data blocks for SETI@Home. Hate to see all that comp power go unused.
+1 LOL
Meanwhile AIG is at 52 week low (and down 50% from peak), which no one seems to notice or care. Is AIG completely irrelevant ? I have no clue. But since 2007 summer, this has been one weird stock market.
It's all about 401K and ERISA pension expectations. Kinda like how the government sends you a notice about all the Socialist Insecurity moniez that you got coming down the road. It's based on the principal of the mirage.
Exactly - and in between their devaluing-exercise, they will legislate a requirement to own treasuries.
Keep watching.
It will be government issued annuities!
Give us all your money and you wont have to worry about a thing, we'll take care of your retirement income needs.
You know, because they handle money so well!
The pensions buy index funds. AIG is still listed in the S&P 500 therefore ergo it isn't the 401K crowd selling.
Twas responding to "this has been one weird stock market." It's sooooooooo alpha to care about individual stocks.
Roger. I don't know who junked you it wasn't called for.
talk about a trending stock, i doubt anyone put this POS in a retirement portfolio earlier this year @ 50
It's easier for Brian and the boyz to keep stocks up with low volume. Too much volume would wake the baby bumblers and get them all grumpy.
Just for the record, some of us can't sleep and we're already quite grumpy.
How long before they have a broader market "stock split"?! There, see - we've got lots of stocks now...stop worrying Tim, this will work!
And now we see Duncan Niederauer's urgent motivation to sell the historic floor of the NYSE instead of selling his options into a vacuum. Duncan takes the cake in the category of capital destruction.
So much for creating value through mergers. Another financial genius stands naked in the retreating surf.
Of course, one can see all of this by simply pulling up a long term chart of the shares.
The past volume was relevant to high freaky trading.
Don't forget, that BAC went from 5 mill shares to 8, shit bank four times dilution so you needed volume to keep the ponzi shares entering the market.
Of course, they made a shitload on algo scalping to boot. Quarters of no losing days.
"thats hard work, running computers, working hard, screwing our clients and taxpayers, working hard, bitchezz..."
Tsunami warning: Get to high ground. The top of the silver mountain is safe and I am here nearly alone. Gold mountain looks nice too. No one is on Platinum mountain except DoChen. He makes for nice company ;)
And Flak makes three....
I've built quite a habitat out of the Great Pacific Garbage Patch. My island will rise and fall with the tsunami, as I play Kevin Costner in my own Waterworld.
S will be the new C on the NYSE
There was a time when the volume was (which was good volume) from traders and not HFT Computers.
HFT drove all of the "Traders" out of the Market so they could stabilize the price and ping it back and forth for a penny all day.
Just think what volume would be without HFT Computers. The Market would be dead, although, I think the Market already is dead.
Dont know what all the noise is about, but this is a very very efficient market. Here is an example that everyone should see as a perfect reflection of an efficent market TNA (tripple long Russle 2K) + 3.25%, TZA (the exact mirror of TNA, but tripple short Russel 2K) = -3.73%. See, I told you it is a very very effient market that clearly reflects either the upward movement of russel or down movement of russel 2K X 3. Tyler might explain better, but I just wanted to clear the air and make sure eveyone understands how this market works very efficiently is all. So, stop you complaining, and give us your money. OOPS, I meant bet. (been a reader for two years, first time writer. So, please take it easy on the junk bit).
I was gonna junk ya until I saw that last line.
Won't junk you but dude don't you have spellcheck? Tripple = triple Russel = Russell eveyone = everyone effient = efficient stop you complaining = stop youR complaining and I won't even start on punctuation.
Oh yeah, Malcom = Malcolm fucked up your own name although you did spell X correctly
For Spell check just right click on a word with your mouse. Spell check comes up. Works great.
Thanks for the spell check, too much after life scotch here. As for my name, I did know that, but assumed the real one was taken, so registered without the "L" But again, do appreciate the not junking bit.
I junked you for the heck of it
welcome aboard - or is a abored?
+wun
i think that's a junking in all but the button Fallatio... savage spell-checking!!!
Malcom if you're worried about being junked you're in the wrong place... speak your mind or dont speak at all (or join the souless crones of the diplomatic core)
Anybody know the "stall speed" on this thing?
now that would be a very interesting project/calculation for one of the wizards on the site.....CogDis? you up for it? all kinds of high-powered math and modeling: integrate financial, economic, psych & aerodynamics, have to put in a HFT factor and a FUDGE factor and..... <head spins>
Same as the Air France Airbus that went down in the Atlantic. This market is in Coffin Corner.
Footsie has been having trouble staying aloft lately, had a key reversal in past week. It correlates nicely with our markets - sort of a canary in a coal mine
Somebody better push that stick forward -- OK, I'm done with the flying analogy
Looks like the algo's have figured out how to fuck their own ass!
Yes indeed Ancona; a kind of perverse Ourobouros . . . may the shithouse go up in flames . . .
We don't need no steenking volume.
Volume kills
+ 1 but we do need badges
badges for watching paint dry on this rally
"when you got nothing, you got nothing to lose." B. Dylan
At some point reality will rule. I just have no idea when. How can so many know so little about what is transpiring on this planet? Have we become a sea mass of idiots looking to big brother to take care of us. What has happened to us? How can so much greed destroy so much that was good.
And our children will pay the real price. Thank goodness I can leave her a few gold coins.
Very simple: We'll just wake up and the markets will be locked limit-down. And again the next day. On Day Three the internet will not work. After that it's National Guardsmen at every pump station, bullhorns, choppers and roadblocks.
I just got a ticket for using my bullhorn this weekend. I dont think they like competing 'crowd control' devices in the public's hands.
Of course i was drunk as shit and in newport beach...for not sure gonna claim that i didnt deserve it. =)
That's strange. I was arrested there because I wasnt drunk.
If you look at the volume traded up to 4:00pm, it was well below 600 million shares on the NYSE.
Two words: 'Potemkin Market'. That's all you or me needs to know.
And from Bespoke I.G.:
"just 60% of US companies have beaten earnings per share estimates this earnings season. In the early stages of the reporting period, the "beat rate" was much higher, but it has drifted lower and lower to its current level as earnings season has progressed"
Worst "performance" sine 2008
Getting harder to fudge the numbers....
No worries.
I'm sure GLD will do a 10:1 split, then SLV and GLD will take up the slack....
reverse split bitchez
Who junked me? I just need a name and address, lead is coming your way as it did mine mf.
I did...reading for 2 years, first time poster and only a member for 5 weeks gets the junk for:
1) Non participation
2) Caring that you got junked
3) Possibility of being a troll.
PS I always accept free lead, silver, gold etc...
The boneheads caused an earthquake at the bottom of Exeter's pyramid. It will only serve to shake the money farther down.
I believe no issue that ZH has ever touched on is more important then the HTF and volume issue.plus the ETF connection to HTF trading..and the overall volume. AS ZH has told the world...the market is a Alice in Wonderland no more..a ruse..
On a side note, went to Tanger Outlet at Myrtle Beach this weekend. Place was dead as a doornail. All those major brand name store outlets were empty. The only one that had a good flow of traffic was Coach who had 50% about everything in the store, and an additional 30% off coupon. Last time I seen it this dead was during a very cold day in the winter. That I could understand, but not last weekend, it was 85 and sunny. Even the boardwalk at the beach was dead.
I don't think this economy is coming back.........not for a long time. I don't care what lies CNBC or Obama tells people. No sales plus margins getting pinched = 2008 all over again.
Algo No Volume, Citi life is just a Fantasy http://www.youtube.com/watch?v=GylirgHFqeQ