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NYSE Volume At New Decade Low

Tyler Durden's picture




 

Both NYSE and ES (e-mini S&P futures) volumes were the lowest of the year so far. This is the lowest non-holiday trading day on the NYSEVOL (from Bloomberg) since its data began a decade ago and eyeballing ES volumes, this appears to be one of the lowest ever volumes of the last few years. For those who think this is irrelevant as the market's price has risen and so total USD volume remains approximately equal - wrong! Today is the lowest USD volume day since the mid 2009 (which tended to coincide with holiday trading volumes around July 4th) - making today's USD trading volume less than 50% of their 2004-2007 average!

A proxy for total USD trading volume - NYSE Volume multiplied by the S&P 500 is at decade low levels for a non-holiday period...

 

and NYSE Volume standalone...

 

Charts: Bloomberg

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Fri, 02/24/2012 - 17:15 | 2194153 non_anon
non_anon's picture

flatline, bitchez!

Fri, 02/24/2012 - 18:07 | 2194318 Comay Mierda
Comay Mierda's picture

everybody had to sell their stocks to pay for living expenses in The Great Squeeze of 2008 - present. but inflation is only at 2% right?  Just imagine what the volume will be in another 5 years lol

Fri, 02/24/2012 - 18:35 | 2194413 trav7777
trav7777's picture

HFT waning

Fri, 02/24/2012 - 20:00 | 2194567 Spigot
Spigot's picture

Its a potemkin market, my friends. The current volumn is mostly churn, not real trading. HFT and window dressing buy/sell within house to make it look like there's a market out there.

How the mighty have fallen.

Fri, 02/24/2012 - 20:53 | 2194645 willien1derland
willien1derland's picture

No volume=no volatility...nothingto arb...I move for a randomizing function to increase volatility so HFTs can stuff bids....at least those poor bankers at Goldman will continue to 'earn' their bonuses to invest in political campaigns...sarcasm off

Fri, 02/24/2012 - 19:21 | 2194511 ACP
ACP's picture

It's still be only 3%, but a happy meal will be $10 and a gallon of gas $11.

 

Fri, 02/24/2012 - 19:26 | 2194518 devo
devo's picture

This is a great point. One never mentioned anywhere.

Fri, 02/24/2012 - 21:28 | 2194692 non_anon
non_anon's picture

yeah, sold the last my stocks at a loss in 2006, stupid ass Disney

Fri, 02/24/2012 - 23:35 | 2194954 boogerbently
boogerbently's picture

Greece, EUzone recession, N. Korea, Iran, (ALL middle east), American politics, unemployment, housing non-recovery, QE ending, market manipulation, China slowdown, deficit expansion......

I've been in it from before the bottom, but could lose it all with one bad headline!

Fool me once.....

Sat, 02/25/2012 - 11:04 | 2195499 combatsnoopy
combatsnoopy's picture

How can the Dow be at these highs with no organic, human demand?  And what's up with China's ban against the US financial markets during our massive trade DEFICIT? 

 

And because China only agreed to limited openness for the financial services industry when joining the WTO, that provided a certain level of protection for the industry, analysts said.

"The government was being cautious with the financial sector," said Zhang Junsheng, a researcher with the Institute of International Economy, University of International Business and Economics. "It took into consideration how much the industry could bear."http://news.xinhuanet.com/english/indepth/2011-12/09/c_131298168.htm 

 

Meanwhile they bought up all of these US Treasureis that enabled excessive government growth over the private sector and enabled all of this corruption.  I'm calling China STUPID

 

"The fund needs to take a “serious look” at the financial industry in the U.S. and Europe to see if it’s ready for “serious discussions” about investment, Jin told the financial news channel."

http://www.bloomberg.com/news/2011-12-09/china-sovereign-fund-has-about-...

 

 

The US was ranked 143 out of 148 in the world for private sector investments.  

http://world.bymap.org/Investments.html

China was ranked #3.  Keeping inflation low isn't going to enable Americans to keep buying cheap Chinese goods.  Again, they're STUPID.  No face.  No wisdom.  Complete marooons. 

Fri, 02/24/2012 - 18:10 | 2194333 JennaChick
JennaChick's picture

Stocks suck. People trade forex now with firms like Deutsche Bank or Armada Markets. Anybody long USDJPY the past few weeks have made a killing. Or EURUSD, Let's make some money!!!

Fri, 02/24/2012 - 23:25 | 2194929 TheFourthStooge-ing
TheFourthStooge-ing's picture

The spammin' scammin' shill now going by JennaChick continued his blatant and pathetic efforts thusly:

Stocks suck. People trade forex now with firms like Deutsche Bank or Armada Markets. Anybody long USDJPY the past few weeks have made a killing. Or EURUSD, Let's make some money!!!

Yeah, I can see why you spammers are eager to make money. Have you managed to pay off that $55,000 in fines (Illimar Mattus $25,000, Ingmar Mattus $30,000) from 2010? You must be legitimate since you neither admitted nor denied the findings, which is the mark of a true professional:

http://www.cmegroup.com/company/membership/membernet/files/20100201_Upda...

File No. CBOT 08-01215-BC

armadamarkets.com Ingmar Mattus rectal prolapse Spada Capital terror bomb anthrax shopping mall crop duster polonium Charles Nelson Reilly claymore mine grenade launcher lutefisk IED assassination hijack Al Qaida ricin electromagnetic pulse RPG Federal Reserve CIA Mossad Lady Gaga detonator Lemmiwinks Hezbollah Guantanamo Santorum fisting plutonium Juarez Cayman Islands nuclear trigger Cleveland Steamer ljutefisk Howard Cosell Forex Fx Trading LMAX parrot and parakeet training tape beri beri carbuncle RPG clostridium Olde Frothingslosh ebola Dimona smuggling roachclip Butthole Surfers bongwater National Reconnaissance Office Don Rickles Backstreet Boys steganography Lee van Cleef kaopectate

 

Fri, 02/24/2012 - 18:34 | 2194410 AbelCatalyst
AbelCatalyst's picture

Simple... The average investor has been chasing performance for years and the HFT's have been strip mining the markets relentlessly. People are done trying to compete and have simply stopped playing... They aint coming back until things get fixed (read: until TSHTF and the robots are driven off the field!). It really is Game Over and the pathetic volumes prove it!!

Fri, 02/24/2012 - 18:36 | 2194414 trav7777
trav7777's picture

huh?  People shouldn't be TRADING the market in this type of volume anyhow.

HFT is probably on the decline; a lot of the volume always was artificial.

Sat, 02/25/2012 - 00:46 | 2195108 AbelCatalyst
AbelCatalyst's picture

Agreed... Did not say TRADING, that was your word... As we know, average investors have a tendancy to invest in segments just as they peak. They don't watch stocks often - they get a monthly statement, their investments are not doing well, so they roll them over into the hottest segments just as they are topping... They lose a few percent here and a few percent there and the HFTs are strip mining those losses daily... People are beginning to understand this which is why mutual fund flows are dropping and volume is tanking... That's all I'm sayin,...

Sat, 02/25/2012 - 10:49 | 2195490 bigkahuna
bigkahuna's picture

right on.

Sat, 02/25/2012 - 10:27 | 2195467 ndotken
ndotken's picture

So much of the trading has gone dark that the volume number is now completely meaningless ... just another way for Wall St to circumvent the rules to which the rest of us must adhere

Fri, 02/24/2012 - 17:15 | 2194155 battle axe
battle axe's picture

Because people are scared and do not know what to do...

Fri, 02/24/2012 - 17:20 | 2194178 swissaustrian
swissaustrian's picture

The big players only use dark pools these days.

What about dark pool volume?

Fri, 02/24/2012 - 17:35 | 2194243 barliman
barliman's picture

 

Easy

Take the published volume number and divide by the number of your choosing between 0.00 to 0.70

The dark pool volume is somewhere in that range.

barliman

Fri, 02/24/2012 - 18:17 | 2194362 PrDtR
PrDtR's picture

You DO mean MULTIPLY.. RIGHT?

Fri, 02/24/2012 - 18:54 | 2194463 barliman
barliman's picture

 

No

Dark pools are not required to report their trades ... much less their volume

Tyler is an optimist thinking dark pools make up 70% of the published volume

My take is the volume of the dark pools can be estimated by DIVIDING by the range I gave ...

... the DIVIDE BY ZERO day  - May 6, 2010

barliman

Fri, 02/24/2012 - 18:02 | 2194312 nasdaq99
nasdaq99's picture

Don't they have to report Dark Pool volume?  

But what about algo volume.  Extract out algo volume, the 100% cash to begin the day & 100% cash end of day stuff and there basically IS NO VOLUME.  Then EXRACT OUT BAC & C and there IS NO VOLUME!!!!

Fri, 02/24/2012 - 17:33 | 2194234 barliman
barliman's picture

 

Or ....

... because people have wised up to the rigged game and are unwilling to serve as "the bigger fools" coming late to the game.

Some indication the mutual funds have been putting money in the last few weeks but the number is just over a billion and that's chump change.

barliman

Fri, 02/24/2012 - 17:50 | 2194288 navy62802
navy62802's picture

They do know what to do ... grab a drink and watch the show. And that's what they're doing. Central bank action has chased most legitimate traders out of the market.

Sat, 02/25/2012 - 03:13 | 2195247 StychoKiller
StychoKiller's picture

My fellow (HFT) Robots are killing all you Humans! :>D

Sat, 02/25/2012 - 12:36 | 2195629 Red Raspberry
Red Raspberry's picture

Where's will Smith when you need him???? 

 

http://www.youtube.com/watch?v=Xpv8nkYq_9U

Sat, 02/25/2012 - 13:19 | 2195698 Conor
Conor's picture

"Because people are scared and do not know what to do..."

Excatly.  Just like me.

 

Fri, 02/24/2012 - 17:15 | 2194157 ekm
ekm's picture

If Bernanke and Obama do not give an order for a crash or if the market delays a crash, NYSE may go out of business.

Only a crash will increase volume.

Fri, 02/24/2012 - 17:20 | 2194181 iamtheBernank
iamtheBernank's picture

Clearly your inferior intellect can not see that the market as I have prescribed it moves in one direction only. BHOmey and I have determined through the sheer power of our superior minds that we will guide the sheeple off the cliff while they are thanking us both for doing so. Volume shmolume...

 

I AM THE BERNANK !

 

Fri, 02/24/2012 - 18:44 | 2194430 ekm
ekm's picture

Grandioso

Fri, 02/24/2012 - 17:16 | 2194158 Lost Wages
Lost Wages's picture

Pump up da volume.

Fri, 02/24/2012 - 17:16 | 2194160 f16hoser
f16hoser's picture

"Turn those Bots Back On!"

Fri, 02/24/2012 - 17:16 | 2194161 LoneStarHog
LoneStarHog's picture

I guess that ONE person is still buying the F**KING DIP...

Fri, 02/24/2012 - 23:35 | 2194953 UP Forester
UP Forester's picture

Yeah, he's the one that peed in the pool....

Fri, 02/24/2012 - 17:18 | 2194169 mayhem_korner
mayhem_korner's picture

 

 

Whooda thunk S&P volume would be correlated with housing prices?  Oh my.

Fri, 02/24/2012 - 17:18 | 2194170 f16hoser
Fri, 02/24/2012 - 18:07 | 2194322 tekhneek
tekhneek's picture

That's $1.60 premium just for a Ron Paul faced coin. I like Ron Paul and all but... c'mon.

Fri, 02/24/2012 - 18:45 | 2194435 slewie the pi-rat
slewie the pi-rat's picture

i didn't go to the link

these are not "coins" t_k;  they are not "monetized"

that guy, vonNuthouse, he "monetized" his!  see?  10 DOLLARS   <slam!>

Fri, 02/24/2012 - 20:20 | 2194592 Yen Cross
Yen Cross's picture

_ow is the _amily Slewie? Always thinking about ya. Good man ya are. 

Singapore.

Sat, 02/25/2012 - 03:17 | 2195251 StychoKiller
StychoKiller's picture

Rounds are round like coins, but this particular round only stated the weight and purity of the Round.  The close to $5 premium over spot is kinda excessive, though.

Fri, 02/24/2012 - 17:19 | 2194172 Gomie
Gomie's picture

Is is skewed at all by the amount of ETFs now? Just curious how that comes into play. Certainly wouldn't explain the massive drop off but might account for some of it?

Fri, 02/24/2012 - 17:26 | 2194211 barliman
barliman's picture

 

The first step is accepting you have a problem.

Change the channel from CNBC and step away from the remote.

Trust us, you will be better off without it.   (I know, they have women with large breasts in tight fitting clothes)

Now think for yourself ... the ETF's are required to rebalance daily which would mean they have to buy or sell shares of the various entities they use as a basis.

Just remind yourself your better off looking for market guidance on the Cartoon Network than CNBC.

barliman

Fri, 02/24/2012 - 17:44 | 2194270 earleflorida
earleflorida's picture

Cartman for president

Fri, 02/24/2012 - 17:50 | 2194286 HarryM
HarryM's picture

Short ETF pairs or variations thereof - but watch your ass if the market falls off the cliff

Fri, 02/24/2012 - 19:12 | 2194497 optimator
optimator's picture

But...but, CNBC gives me a better laugh  when I wake up than the cartoon network ever could.

Sat, 02/25/2012 - 11:02 | 2195502 BeetleBailey
BeetleBailey's picture

Bloomberg signed Margaret Brennan. Ditto Trish Regan. There went the boobs and the legs. Mandy Drury should go back to Australia. She will lose her silicone after a while, sitting so close to the NYSE floor.

I watch CNBC muted. Better that way. No chirping sounds of Becky Quick, leering at her husband off camera. Joe Kernan lost his marbles decades ago - amongst all those liberal idiots.

How Rick Santelli stays with the network is beyond me. Mark Haynes was the last of the good ones. How he put up with Burnett - and did so with galantry - should be studied at Wharton. She's now at CommieNewsNetwork - where she "belongs".

Sat, 02/25/2012 - 14:29 | 2195900 Waterfallsparkles
Waterfallsparkles's picture

Joe Kernan is becoming more negative by the day.  He has a scowl on his face all the time now. I hate the way he slaps his hands on the desk all the time.  I think he is afraid of Sorkin and being replaced by him because he always is picking on him, especially about the way he dresses.  Keeps trying to be Top Dog but he has lost it.  Plus, it is always me me me, I did this, I don't like this, yada yada yada.

And that Arrogant Guy on in the afternoon really gets under my skin.

Mandy?  Well if I wanted to watch an x rated video she would be ok but for her to sit there all day with her Boobs attempting to fall out at any moment is a disgrace to legitimate Women reporters.  I keep waiting for her to do a Poll Dance at any minute.  And the way she says Chiner instead of China.

I absolutely loved Mark Haynes in the mornings.  I especially liked Mark with Simon.  It was so funny.  It was watching Laurel and Hardy all over again.  Mark would say something in a kidding way and Simon would take it literally and get so indigent.

And Cramer my God.  What can be said about that Clown that has not been already said.  They had him on so much it almost became the Cramer show.  They had him on in the Morning, he kept popping in on Greenbergs show and taking over and then on the evening.  I dislike him as it is and to see him on every 5 minutes was revolting.

So, whats you gripe.

Fri, 02/24/2012 - 17:19 | 2194173 jcaz
jcaz's picture

The music slows.....

Fri, 02/24/2012 - 17:19 | 2194175 PontifexMaximus
PontifexMaximus's picture

That's the way it has to be: we have to pervert the system and leed it ad absurdum. Only so, "systems" can proof to be right, or better said: be the DNA.

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