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Intraday Volume Observations

Tyler Durden's picture




 

When it comes to market internals, one can listen to Bob Pisani telling us that today's upside market move is on heavy volume or one can literally look at the facts.

Today's market volume relative to average trendline:

And last few day's market volume in perspective:

 

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Thu, 08/11/2011 - 15:39 | 1551733 Manthong
Manthong's picture

Do I see a classic throwback inverse head and shoulders in Ag now?

Thu, 08/11/2011 - 15:20 | 1551736 lettuce
lettuce's picture

Looks fine on a 20-day vol diff, TD... I think the 5-day will be a bit skewed given what has happened this week (though please feel free to disagree).

Thu, 08/11/2011 - 23:26 | 1553198 IQ 145
IQ 145's picture

Up is up. Down is down. You ever meet anybody that made a living trading volume charts?

Thu, 08/11/2011 - 15:22 | 1551741 Everybodys All ...
Everybodys All American's picture

Projecting a little more than half to three quarters the volume by the close.

Thu, 08/11/2011 - 15:24 | 1551743 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That piss ant Pisani wrote a hit piece on gold today that said there can be no gold standard because there is not enough tonnage to support it.  He failed to recognize that there is plenty if the price went up.

Thu, 08/11/2011 - 15:56 | 1551814 Divided States ...
Divided States of America's picture

Watching the background of the NYSE floor behind Maria and Bill, I see a few people standing around doing JACK SHIT. During days like what we went through in the past week, arent there supposed to be tons of brokers running around screaming, spitting and pushing others around in search of getting the best price out there?? Oh I see, that was in the old wild west, nowadays everything goes on in the matrix...

Thu, 08/11/2011 - 16:09 | 1551866 Fish Gone Bad
Fish Gone Bad's picture

I always thought that Bob Pisani helped Maria Barteromo put on her make up with Homer's patented Make-up gun.

Thu, 08/11/2011 - 15:25 | 1551745 Dr. Engali
Dr. Engali's picture

Damn Tyler I know it's fight club and we are all supposd to live in a shabby house and all, but your following is getting bigger. You need to do something about those servers.  We need to be able to get in the house. A contribution is on the way.

Thu, 08/11/2011 - 15:26 | 1551746 Id fight Gandhi
Id fight Gandhi's picture

Can't even watch tv commentators with markets like this. One day they're saying it's all going to fall apart and the next everything is fine. Make up your fucking mind.

Thu, 08/11/2011 - 16:06 | 1551849 valley chick
valley chick's picture

giddy like little girls...doesn't change the fact the US is broke and Euro wonder world is broke.  I rather hold PM's and gives me more time to prepare a little more. Just saying.

Thu, 08/11/2011 - 15:26 | 1551747 Dick Darlington
Dick Darlington's picture

Sackman dog and pony show. Wonder when they start advertising this on CNBC...

Thu, 08/11/2011 - 15:29 | 1551750 JJSF
JJSF's picture

Should test 1200 soon..
Will be nice short opportunity at that level.

Thu, 08/11/2011 - 15:35 | 1551764 MFL8240
MFL8240's picture

Why is it up at all?

Thu, 08/11/2011 - 15:53 | 1551806 DeadFred
DeadFred's picture

When dropped form a high enough distance even a dead cat will bounce. But will a dead fred???

Thu, 08/11/2011 - 15:33 | 1551759 John McCloy
John McCloy's picture

Great more confirmation of what I already knew...The markets can only rally when Bots play ping pong with the same 100 shares and there is no volume. So essentially these prices are all false still correct?

   Me and Faz will try to discover that at 1300 a share when all banks are nationalized.

Thu, 08/11/2011 - 15:34 | 1551762 MFL8240
MFL8240's picture

Can anyone share with me why this market is up at all??  Thanks and dont tell me it was that pathetic jobs sham.

Thu, 08/11/2011 - 15:45 | 1551787 Ned Zeppelin
Ned Zeppelin's picture

If the DOW/S&P are up, before looking for other reasons, check the dollar, which is usually down in that circumstance, as the correlation is quite strong. Treasuries down, yields up on profit taking, not the jobs report. No one gives a fuck about the jobs report.

Thu, 08/11/2011 - 15:49 | 1551792 SheepDog-One
SheepDog-One's picture

So wheres the case now for 'QE3' mania if they can have +500 DOW days then theres no problems at all...FED shooting itself in the foot.

Thu, 08/11/2011 - 15:37 | 1551770 caerus
caerus's picture

volume eh?  i got one that goes to 11...

Thu, 08/11/2011 - 15:38 | 1551772 Lone Mad Minute...
Lone Mad Minute Medic's picture

I just keep getting my ass kicked in this insane market. I seem to be jumping on the wrong side each day. Buy into gold, gold goes down. silver? Fuck! Short the Russell? Time to turn everything off and go fishing.

Thu, 08/11/2011 - 15:43 | 1551783 RockyRacoon
RockyRacoon's picture

White River in Arkansas....... no better brown trout in the U. S.

http://www.google.com/search?q=white+river+brown+trout&hl=en&safe=off&cl...

Thu, 08/11/2011 - 15:45 | 1551790 Ned Zeppelin
Ned Zeppelin's picture

sweet would love to hit that river check out Liv2Flyfish podcast.

Thu, 08/11/2011 - 16:01 | 1551816 hedgeless_horseman
hedgeless_horseman's picture

Black Canyon of the Gunnison is the best for Brownies, in my humble opinion.  Can you make the hike, though?

http://americanangler.com/destinations/gunnison-gorgers

Thu, 08/11/2011 - 15:57 | 1551819 candyman
candyman's picture

Must be using Dead Drifting Crawfish patterns and golden Stoneflies with a smaller dropper like a Caddis or a Little Yellow Stone for nymphin, thats what we are using in the Sierras.

Sat, 08/13/2011 - 09:38 | 1556936 RockyRacoon
RockyRacoon's picture

All ya need here is a gold spinner and a fat ole night crawler.  Float fishing on the White or Red River is a treat whether you catch anything or not.   There are also rainbow and cut-throat in these waters.   In certain seasons the water level is lowered for fly fishing and people come from all over the world to angle for the more wily browns.

Thu, 08/11/2011 - 15:49 | 1551793 Placerville
Placerville's picture

or Gold panning!

Thu, 08/11/2011 - 15:39 | 1551775 MoneyWise
MoneyWise's picture

"why this market is up at all?? " Why this Market

was down in the first place? Based on rumors from Europe?
Booyah, Yeap baby..!!!

Depressed people, always lose,
Cause it's unhealthy to concentrate on negative
all the time. Eat this: Dow 14k by year end. Good luck
on doomsday outlook.

Thu, 08/11/2011 - 16:28 | 1551980 DeadFred
DeadFred's picture

Who's your dealer? Seems to be prime stuff.

Thu, 08/11/2011 - 23:41 | 1553230 obelisks
obelisks's picture

there is a fundamental difference between being depressed compared to being

in touch with reality .  you must be smoking something really good

if you think that spending money you don't have can go on indefinitely

Thu, 08/11/2011 - 15:41 | 1551779 MoneyWise
MoneyWise's picture

CSCO up 18%, Chambers on crack!!!

Thu, 08/11/2011 - 15:46 | 1551786 SheepDog-One
SheepDog-One's picture

Show me any reason equities should be up at all today then I'll entertain talk about 'supports' and channels and all that.

BTW I guess this TOTALY cancels any talk about 'QE3' at all since we can have +500 point up days shows theres no trouble at all.

Thu, 08/11/2011 - 15:50 | 1551799 caerus
caerus's picture

sell! sell!

Thu, 08/11/2011 - 15:51 | 1551802 MoneyWise
MoneyWise's picture

Sell AUG vertical GLD bull put spread, while GOLD is down a bit.. 160/155 (for example) Only 8 days left to expiration, and keep the premium IMHO..

Thu, 08/11/2011 - 15:55 | 1551812 caerus
caerus's picture

btw if donald trump buying BAC and C etc. isn't bearish...i don't know what is...

Thu, 08/11/2011 - 15:57 | 1551815 Motorhead
Motorhead's picture

Bob Pisani always seemed like an arrogant prick to me.

Thu, 08/11/2011 - 16:04 | 1551841 youngmanU2
youngmanU2's picture

Yes, but Maria looks really fine today, though, don't you think? 

In this market, that's one of the few reasons for watching CNBC. Actually, it's one of the great appeals of CNBC since its inception.

Thu, 08/11/2011 - 16:21 | 1551915 Cvillian
Cvillian's picture

Uh, you need to get some trim. If the skunkhead look is your kind of thing, so be it, but there are many other options with less implied volatility than her that one can watch, but perhaps that was also your point.

Thu, 08/11/2011 - 23:35 | 1553219 IQ 145
IQ 145's picture

"Skunkhead";  LOL.  Is that a term of endearment

Thu, 08/11/2011 - 16:15 | 1551908 Victor Berry
Victor Berry's picture

It was Pisani or one of his CNBC cohorts who said yesterday that HFT was not responsible for the wild market swings because the HFT folks always started and ended the day "flat."  Excuse me, but I thought the HFT folks were momentum traders who chased the market in either direction which would exaggerate the swings.

Thu, 08/11/2011 - 16:16 | 1551911 Zymurguy
Zymurguy's picture

MarketWatch is stating nearly 400M volume with an average daily of 190M.

1929 saw huge volitility and massive volume as well.

Thu, 08/11/2011 - 18:46 | 1552406 Johnny Yuma
Johnny Yuma's picture

Why would you take a journalist's analysis of the market? Especially one with zero market experience. CNBS at it's best!

Thu, 08/11/2011 - 22:26 | 1553029 laomei
laomei's picture

Huge down, huge up, huge down, huge up.... these swings just say that everyone is panicking, everyone is trying to move money in and out of play trying to catch the falling knife.

 

This happened back in 2008 as well just before the massive crashes started.  All it takes is one bit of bad news on the wrong day and it all falls apart.  Any statistic coming out now will be manufactured garbage that can be modified later once no one cares.  Ride this rollercoaster at your own fucking peril honestly.

 

Considering that this is a 2008 repeat and the same problems exist (but are now amplified) and the same "tactics" are being used.  Just buy gold on the dips, it's going up at least until the problems are fixed (they won't be).

Thu, 08/11/2011 - 23:39 | 1553229 IQ 145
IQ 145's picture

It went down fifty bucks today; does that mean the problems are fixed? At $1650 it'l be real interesting again.

Thu, 08/11/2011 - 23:50 | 1553257 laomei
laomei's picture

After climbing how much in the last month?  They hiked the margins to depress prices... nothing crazy about the $50 drop.

Fri, 08/12/2011 - 04:49 | 1553504 Reptil
Reptil's picture

--- nevermind
posted in another thread

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