Sunday, December 4, 2016
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
14,832 Blog Posts

I Have Your Volume Right Here

Lots of bitching and complaining today, due to the low volume nature of this “fuck your face up” (no jigglypuff) rally. You can lose money on big volume or small; the result is always the same. Embrace the robot nature of the market and offer a special “fuck you” to all of those floor traders out of work.

Truth be told, I didn’t press the market the way I should have today, thanks to YELP sitting out the melt. But that’s okay ‘cuz I still made 2.1%, elevated by TDC, CPST, MAS, BID, GLW, CLR, RS and JWN. If you missed out on today’s rally, don’t worry, there’s a lot more coming. I was worried about the tape because of Europe. But while they’re throwing fistfuls of cocaine into the fan, I have nothing to fear.

After the bell, all eyes are on INTC.

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  1. DJMarcus

    fly –

    thoughts on wnr here and tif?

    wnr pulled back a bit

    tif had a great Q and is back to where you traded it a few months ago.

  2. Woodshedder

    Its a bull market. When has volume ever mattered in a bull market?

  3. Jworthy

    Just pretty happy you dropped a no jigglypuff

  4. Mr. President

    French Montana is garbage

    • The Fly

      Say that to his face. I am certain he would “merc” you.

      • Blind Read Ant

        I recognized the sound of Ro$$ at the gym the other day.

        Of course, I was the cracker receiving harsh side eye, but it’s not racism when I’m vilified via assertive innuendo, as racism is a one way street, no?

        I’m learning!

  5. Blind Read Ant

    “[T]hey’re throwing fistfuls of cocaine into the fan, I have nothing to fear [?].”

    B.R.A. puts gas masque on, eyes top three hwaut bebe’s in da club.

  6. Trading_Nymph

    I think today was more a Jiggly Caliente Rally Overweight and looks really cute in a strange way, but in the end, just a ugly guy in a wig.

  7. The_Real_Hmmm

    The price of Brent crude fell with apparent progress in negotiations between Iran and the United Nations Security Council. But West Texas Intermediate increased slightly in both the futures and spot markets on news Seaway pipeline will start shipping oil on May 17 from Cushing, Okla., to the US Gulf Coast, 2 weeks sooner than expected.

    The earlier Seaway start-up “in itself is not a huge deal, but it now forces the market-at-large to focus more on the future economics of the Brent-WTI spread,” said Olivier Jakob at Petromatrix in Zug, Switzerland.

    “In addition, the tariff Seaway is charging the customers is in the range of $3-5/bbl, which takes away the market’s fear that Seaway might charge a rate commensurate with the very wide WTI-Brent spread,” said James Zhang at Standard New York Securities Inc., the Standard Bank Group. “Oil products were also lower on the day, following Brent. We continue to put our emphasis on the price activity in Brent time spreads, which have been falling sharply since the beginning of this month.”

    Jakob said, “On average, the Seaway tariff for Cushing to the US Gulf is at $3.28/bbl for light crude oil and $3.78/bbl for heavy crude oil, hence there is plenty more room for a further correction in the Brent premium to WTI.”

    He said, “It was clearly Seaway more than ‘Iranium’ that drove Brent prices yesterday.” Jakob noted, “There will be a second round of Seaway towards the end of the year (increased capacity) but also because of increased production of light crude from Texas.” Meanwhile, there remains a strong possibility of release of oil from strategic petroleum reserves because of presidential races in the US and France.

    Reduction of the Brent-WTI spread should help support Atlantic Basin refinery margins that “for now are at attractive levels,” Jakob said. “The refining margins in the Mediterranean are at the best levels of the year, and the same applies to the US East Coast refining margins.”

    Some of that increase resulted from units being shut in for maintenance. “But given that the flat price is still capping end-user demand, we are not confident that at current prices there will be enough demand to absorb the additional product output that is being priced in the cracks, and we will therefore have a cautious to the products backwardation in the months to come,” said Jakob.

  8. leftcoasttrader

    Fuck volume.

    I find markets that bend correlations to be far more difficult. Of course that puts me in the same camp of people that are struggling with the lack of volume.

    Nothing was really rotated out of or sold today to move into equities. Just seemed like sidelined cash being put to work. I can’t imagine the individual investor matters that much to blame it all on tax season.


    “Go find your volume behind that tree WAYY over there”

    Good memories of OCS are coming back.

  10. prospectus

    The last two dats was an AAPL off / AAPL on event. Nothing more.

  11. prospectus

    DAYS *facepalm*

  12. Mr. Partridge

    People really still look at volumes? oh boy

  13. discoordinated

    ReallY, who cares about volume on the indexes? It always seems to be someone who is in a losing trade and isn’t cutting it.