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NYSE Matched Volume Drops To New Decade Low In February

Tyler Durden's picture




 

Someone is obviously not complying with the central-planner script and rotating fast enough into equities.

In February, total NYSE matched volume (defined as the number of shares of equity securities and exchange-traded products executed on the NYSE Group's exchanges), dropped 13.6% from a year ago, 9.4% from January, and at 20.5 billion shares in the 19 trading days of February, represents a fresh decade low for the exchange (source).

Perhaps it is time for central planning to take it up a level and restore some more confidence in equities as an asset class, by having the Chairman release some 30 minutes before the start of trading what the closing price for the DJIA will be every day. Only this way can one truly the Fed's dedication to getting every hotdog vendor back into the ponzi scheme that are global stocks, which unlike the last time the Fed lost control and saw the S&P cut in half in a few months, will never happen again.

Cause this time it's different.

 

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Mon, 03/11/2013 - 08:37 | 3318871 Sudden Debt
Sudden Debt's picture

PRETTY SOON, THOSE HFT COMPUTER ALGORITHMES WILL LOOK A LOT LIKE PONG!

Mon, 03/11/2013 - 08:38 | 3318875 Sudden Debt
Mon, 03/11/2013 - 08:42 | 3318884 espirit
espirit's picture

Remain calm.  Walk, don't run through the exits.

Mon, 03/11/2013 - 08:44 | 3318888 espirit
espirit's picture

Psst, the fire alarm bells have been disconnected.

Mon, 03/11/2013 - 08:44 | 3318889 GetZeeGold
GetZeeGold's picture

 

 

Who needs volume?

Mon, 03/11/2013 - 08:46 | 3318899 Thomas
Thomas's picture

What does volume even mean in an algo-driven world?

Mon, 03/11/2013 - 08:55 | 3318919 Sudden Debt
Sudden Debt's picture

if a woman is telling you SIZE and VOLUME doesn't matter...

she flat out lying not to hurt your feelings...

Mon, 03/11/2013 - 09:38 | 3319024 Joe Davola
Joe Davola's picture

Bore and stroke contribute to displacement.

Mon, 03/11/2013 - 10:51 | 3319215 LFMayor
LFMayor's picture

and any shade tree hod rodder will tell you, there's no replacement for displacement.

Mon, 03/11/2013 - 08:56 | 3318922 Ghordius
Ghordius's picture

what does "market" mean to algos? which reminds me I have to take one with me next time I go to the fish market

Mon, 03/11/2013 - 09:20 | 3318983 Jacque Itch
Jacque Itch's picture

It makes manipulation even easier

Mon, 03/11/2013 - 09:05 | 3318947 RunningMan
RunningMan's picture

I guess no one needs volume, but meaningful price discovery impossible without some real trade. The global economy is on life support and all monetary policy is focused on the market and currency control. Those will fail, but the failure will manifest itself in continued political and social unrest. Not a market collapse I'm now convinced...why? Because they've got this suckered propped up with duct tape, glue, sticks twigs, and pig carcasses. There's no real trade because we don't NEED to own equities to live. We just need to have access to water and food.

Mon, 03/11/2013 - 08:38 | 3318876 archon
archon's picture

It like the music is slowing to a stop in the game of "musical chairs".

Mon, 03/11/2013 - 08:50 | 3318907 Sudden Debt
Sudden Debt's picture

http://forgifs.com/gallery/d/206073-1/Musical-chairs-fail.gif

 

WHATEVER YOU BUY YOU KEEP! NO REFUND AND NO BUYBACK!

Mon, 03/11/2013 - 08:39 | 3318877 AlphaDawg
AlphaDawg's picture

would love to short the fuck outta stocks

just dont have the balls in this environment - benny would sqeeze em too hard with 85bil getting pumped in every month

Mon, 03/11/2013 - 09:03 | 3318941 DeadFred
DeadFred's picture

It is a bearish signal when the bears are feeling cautious. Still I agree that the S&P at least touching the old highs is a high propability event.

Mon, 03/11/2013 - 08:39 | 3318878 ziggy59
ziggy59's picture

Lol.. Shiti, I mean C raised to buy at UBS...

What a freak show!

Mon, 03/11/2013 - 08:39 | 3318880 butchee
butchee's picture

Buy and hold 4EVA.

Mon, 03/11/2013 - 08:41 | 3318882 bozzy
bozzy's picture

Dang that's impressive! Guess ppeps are a little more reluctant to become Goldman's bigger fool than nank was hoping. Oh well - does that mean the stress tests will need further adjustment?

Mon, 03/11/2013 - 08:43 | 3318886 azzhatter
azzhatter's picture

Black Swan on the horizon? Or is that a chinese flying pig?

Mon, 03/11/2013 - 08:45 | 3318897 espirit
espirit's picture

A Feinswine?

Mon, 03/11/2013 - 08:46 | 3318898 GetZeeGold
GetZeeGold's picture

 

 

Or is that a chinese flying pig? 

 

Hope they're the flying kind....cause they can't swim worth crap.

Mon, 03/11/2013 - 08:59 | 3318931 RunningMan
RunningMan's picture

Black swan (or non-swimming pig) won't be in equities. Algorithms are now in control to prevent equity price variation beyond mandated levels (VIX control), and fueled by infinite liquidity.  People keep waiting for the market crash but the market will stay intact while the world collapses around it.

Mon, 03/11/2013 - 09:04 | 3318946 espirit
espirit's picture

I like that analogy to a "Twinkie".

Mon, 03/11/2013 - 09:14 | 3318971 HalinCA
HalinCA's picture

BA-ZING!

Mon, 03/11/2013 - 08:44 | 3318890 buzzsaw99
buzzsaw99's picture

volume zero, dow infinity bitchez

Mon, 03/11/2013 - 08:44 | 3318892 Downtoolong
Downtoolong's picture

Y U No Buy Guy?

You selling (JPM)

Me, no, I'm not selling, you? (Morgan)

No way, I'd never sell you guys out, Ben would shit his pants (Goldman)

Hey, any way we can get in on this (AIG)

 

 

 

Mon, 03/11/2013 - 08:45 | 3318894 emil
emil's picture

CLASSIC NON CONFIRMATION OF RECORD HIGHS.

Mon, 03/11/2013 - 08:46 | 3318900 medium giraffe
medium giraffe's picture

 

 

 

 

A STRANGE GAME.

THE ONLY WINNING MOVE IS

NOT TO PLAY.

 

HOW ABOUT A NICE GAME OF CHESS?

Mon, 03/11/2013 - 08:46 | 3318902 scatterbrains
scatterbrains's picture

On the bright side you could say at least it's costing tax payers less money to bail out all the chairman's budies with his dow 36,000 mission.    Maybe at some point he'll be able to lift IBM a few points on 300 average shares traded.

Mon, 03/11/2013 - 08:51 | 3318911 Sudden Debt
Sudden Debt's picture

LET THE IPO'S BEGIN!!

Mon, 03/11/2013 - 08:54 | 3318914 astoriajoe
astoriajoe's picture

"Perhaps it is time for central planning to take it up a level and restore some more confidence in equities as an asset class, by having the Chairman release some 30 minutes before the start of trading what the closing price for the DJIA will be every day."

Transparency!

Mon, 03/11/2013 - 08:54 | 3318918 buzzsaw99
buzzsaw99's picture

starve the beast

Mon, 03/11/2013 - 08:58 | 3318928 EclecticParrot
EclecticParrot's picture

Volume ? !     We don't need no stinking volume ...

Mon, 03/11/2013 - 09:02 | 3318938 SubjectivObject
SubjectivObject's picture

Too late.

Mon, 03/11/2013 - 09:12 | 3318967 EclecticParrot
EclecticParrot's picture

Finance ministers deep in thought: "we can't show them our badges, as they're actually Disney stickers, so continue printing and ramping"

Mon, 03/11/2013 - 09:03 | 3318942 Dan Duncan
Dan Duncan's picture

A silly question (I know), so please be patient:

This morning I got up to look at the futures on TV to see how much money I made overnight...and I saw "Dow Futures at 19". 

But here's the thing--the numbers are in a red color and I've never seen that before.  I went to the same channel I always do, so it's not a because of the network.  I went to their website to see if they had any kind of announcement, as in "To mix things up, we are going to change the colors of our market reporting, etc., etc"  But that wasn't it, either.  I'm sure my concerns are overblown and I'm also sure there's an obvious explanation...but I can't figure it out! 

So, without making me feel dumber than I already do, is this red color on the Futures connected to the time change?  

Thanks for your time.

Mon, 03/11/2013 - 09:08 | 3318952 espirit
espirit's picture

Yup.

Mon, 03/11/2013 - 09:25 | 3318988 buzzsaw99
buzzsaw99's picture

There is nothing wrong with your television set. Do not attempt to adjust the picture...

Mon, 03/11/2013 - 09:08 | 3318950 Edward Fiatski
Edward Fiatski's picture

We're all just Robots Now.

01100110 01110101 01100011 01101011 00100000 01111001 01101111 01110101 00100000 01100010 01100101 01110010 01101110 01100001 01101110 01101011 01100101

66 75 63 6b 20 79 6f 75 20 62 65 72 6e 61 6e 6b 65

ZnVjayB5b3UgYmVybmFua2U=

102 117 99 107 32 121 111 117 32 98 101 114 110 97 110 107 101

"MD2:
MD4: d97e1efc77a8d8f55187ce42a0602743
MD5: 7c0f329c09ba5026bb90197076427dd6
CRC 8, ccitt, 16, 32 :

CRYPT (form: $ MD5? $ SALT $ CRYPT):
$1$J/oUOWvA$PIp3yLDu/FfU7NhZP9Ry0.
(form: SALT[2] CRYPT[11]):
ps7FnUXit3RZM

SHA1: e4c4a7b61ad138b37d12d21b9dcd74d1eeef2994
RIPEMD-160:
18b395397bb256dcfaa663b4f27e8cca2cb396e9"

http://home.paulschou.net/tools/xlate/

Mon, 03/11/2013 - 09:12 | 3318962 medium giraffe
medium giraffe's picture

Nice :)

Mon, 03/11/2013 - 09:25 | 3318993 Inthemix96
Inthemix96's picture

Forgive my ignorance Edward,

Whats that?

Mon, 03/11/2013 - 09:43 | 3319039 Edward Fiatski
Edward Fiatski's picture

Click on the link at the bottom of the post.

Bonus - http://www.youtube.com/watch?v=PPwdI8JlTnA

Mon, 03/11/2013 - 10:01 | 3319081 Inthemix96
Inthemix96's picture

Cheers mate.

Brilliant

:-)

Mon, 03/11/2013 - 09:51 | 3319002 RunningMan
RunningMan's picture

The experts they agree, listen to the math.

 

EDIT: 

01101100 01101001 01110011 01110100 01100101 01101110 00100000 01110100 01101111 00100000 01110100 01101000 01100101 00100000 01101101 01100001 01110100 01101000

Mon, 03/11/2013 - 09:15 | 3318965 HalinCA
HalinCA's picture

IT'S THE PENSION FUNDS, STUPID!

 

Of course this all has to be carfully managed ... the ZH post on underfunded city pension funds makes it clear 'they' have to manipulate not only the bond and gold maket, but also the stock maket, fer chrissakes!

http://www.zerohedge.com/news/2013-03-10/if-youre-chicago-or-new-york-ta...

If those pension funds go south, panic and chaos!

So for the next 30 years, anybody who THINKS about a free market is, well, silly.

Mon, 03/11/2013 - 09:26 | 3318995 espirit
espirit's picture

Damn man, you let the cat out of the bag!

Now what are we going to talk about on ZH?

Mon, 03/11/2013 - 09:35 | 3319014 rsnoble
rsnoble's picture

They don't care about pension funds they care about control and re-election. LOL.   Not gona bother them if you die in poverty.

Mon, 03/11/2013 - 09:56 | 3319064 otto skorzeny
otto skorzeny's picture

don't forget the insurance companies are completely fucked in this ZIRP enviroment

Mon, 03/11/2013 - 09:14 | 3318969 Shizzmoney
Shizzmoney's picture

Nothing ever changes much on Wall Street, including the degree of professional foolishness. I’m sure if a determined prosecutor went hunting for similar emails today, she could probably find them.

But I don’t know what the point would be. Because there’s nothing illegal about asking buy-side clients to send commission revenue your way — or even about explaining to them how much money you’ve helped them make. eToys’ creditors might ultimately win this case against Goldman (over their IPO), or they might not, or the two sides might settle.

But whatever happens, the implications for sell-side equity capital markets desks will be minuscule. Because the amount of money they’re making right now will always dwarf any potential litigation risk 15 years down the road.

blogs.reuters.com/felix-salmon/2013/03/11/where-banks-really-make-money-on-ipos/


Mon, 03/11/2013 - 09:14 | 3318972 SheepDog-One
SheepDog-One's picture

Must....rotate into....stawks...

Mon, 03/11/2013 - 09:28 | 3318997 monopoly
monopoly's picture

I don't care about no stinkin volume. As long as Kramer is buying Amerika I am buying too. I trust him. 

Mon, 03/11/2013 - 09:38 | 3319025 rqb1
rqb1's picture

He's a good man

Mon, 03/11/2013 - 12:34 | 3319479 optimator
optimator's picture

mensch.

Mon, 03/11/2013 - 12:44 | 3319500 Jake88
Jake88's picture

whatever

Mon, 03/11/2013 - 09:29 | 3318999 earleflorida
earleflorida's picture

'the cyclicality of business cycles has been artifcially excellerated with the advent of 'hft'... thusly, the boom and bust cycle's natural rhythmic breath will suffer dialysis atrophic hyper-hypoxia-- until then... this engine's timing chain finds itself spinning on a threaded algorithm of a latent base three, forced thru attrition into a disfucntional symbiotic binary abortion-- whence both machine and business cycles revert to the mean?!' 

Mon, 03/11/2013 - 09:30 | 3319001 John Law Lives
John Law Lives's picture

Expect a full-court press as the whoremasters try to lure retail investors back into the market to buy their overpriced shares.  Look for more headlines like these:

Once in a generation buying opportunity...

Deficits don't matter...

Stocks can't go down again...

FUBAR.

 

 

Mon, 03/11/2013 - 09:33 | 3319010 rsnoble
rsnoble's picture

Eventually I think real panic will set in, only going to take 1 major player to decide it's time to save themselves first and it will cascade after that.  Not sure how they will get past the feds henchman at the backdoor but that's not my problem.

Mon, 03/11/2013 - 09:43 | 3319040 resurger
resurger's picture

lol

Am betting on a double ALGO work today.

Mon, 03/11/2013 - 09:46 | 3319043 Kokulakai
Kokulakai's picture

It can't be that retail investors are too smart. So it must be something else.

Mon, 03/11/2013 - 09:59 | 3319075 Tombstone
Tombstone's picture

Lower volume=easy manipulation, as someone previously stated.  The truth is in the DOW, the most easily manipulated, worthless index on the planet.  You know if the DOW goes up or down (heaven forbid in this day and age) that the other lemmings will follow.  It's simple for Benny and the central planning henchmen to boss around the DOW knowing that the perception of wealth moves to other indices.  Let's see 'em all sell at the top and rake in that bundle of wealth.

Mon, 03/11/2013 - 10:00 | 3319080 wonderatitall
wonderatitall's picture

damn bitchez..daddy gona drone yo ass

Mon, 03/11/2013 - 10:18 | 3319122 Lost Wages
Lost Wages's picture

Pump Up da Volume.

Mon, 03/11/2013 - 10:23 | 3319132 TriGuy
TriGuy's picture

Am I the only one that thinks this is just a sign the algos are getting tired of eating each other's lunches? They've been pushed to their effective limit and now just sit around eating their tails. Probably a bunch of them getting turned off = substantially less volume.

Mon, 03/11/2013 - 10:33 | 3319171 omi
omi's picture

Please explain the measurement. Does this mean that JUST NYSE cumulative volumes are dropping or does this mean that the sum of the cumulative volumes on all exchanges are plunging?

 

If it's just NYSE, then who gives a bleep. There are many other exchanges. If it's sum of all exchanges, then it's something interesting. 

Short NYX I guess.

Mon, 03/11/2013 - 11:06 | 3319243 thismarketisrigged
thismarketisrigged's picture

what do u mean, cnbc is always telling its viewers at the end of the day, that there are lot of people jumping into to buy. lol

 

the next time there is volume will be when this entire thing crashes

Mon, 03/11/2013 - 12:01 | 3319399 optimator
optimator's picture

I heard one of those money guru on radio, as I woke up Sunday, saying how great the market was doing with 80 billion new money going in the last two months.  Of course he didn't mention the 170 billion going in from the FED.  So, 90 billion going out.

Mon, 03/11/2013 - 12:40 | 3319493 Jake88
Jake88's picture

LOL. Great idea. Announce the close price ahead of the open. I'll play.

Mon, 03/11/2013 - 12:51 | 3319526 orangegeek
orangegeek's picture

WHERE'S KRUGMAN!!!?????

 

WE WANT AN EXPLANATION NOW!!!!

Mon, 03/11/2013 - 23:55 | 3321530 trebuchet
trebuchet's picture

Maybe volume fall is related to compettion across exchanges..........? don't know how that works exactly

Tue, 03/12/2013 - 07:24 | 3321806 TWSceptic
TWSceptic's picture

This part of the cycle is called "thrill" or "euphoria" it's the last part, when the retail investors get in, then the cycle ends and the money changes hands. All that is needed now is the trigger event.

Tue, 03/12/2013 - 15:55 | 3323598 DeficitAlchemist
DeficitAlchemist's picture

next stop Flash crash... blamed on fat finger MK II

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