"It's A Choppy De-Grossing Tape", But Retail Still Rules The Roost; Goldman

It’s a choppy de-grossing tape, according to top Goldman Sachs Delta-1 head Rich Privorotsky, who points out that it's the wrong time of year to defend positions as people more focused on locking in YTD gains.

Think that's different into early November.

Yesterday saw 25.2b shares traded across all US equities exchanges which was good for the 5th most active trading session of 2025 (for context ytd avg is 17.2b shares).