Joined Jan 19, 2010
717 Blog Posts
YAHOO TECH-TICKER HIT.
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Bids are disintegrating again…
Looks like a test of 10200 is coming…Stay tuned…
Comments »OFF BALANCE
Just last week I wrote that the market was “off balance” and my sense was correct. I just wish that I was short all the stocks that I proposed shorting a few weeks ago–but had to get out of the way of the former forever-higher grinding market.
Sure, we’ve got problems with Europe and China and currencies and deficits and politics and anything else you can think of. But what caused the crash today was a lack of liquidity. Just like the market grinding higher on lower and lower volume. We just couldn’t figure out where the sellers were. It was a lack of liquidity.
With the abolition of the Specialist and the advent of computerized high frequency trading, the markets have completely lost liquidity. And nobody can argue with me, just look at the post-mortem of todays action. No fake fat finger.
Apple dropped from $235 to 200 in a 2 minute span, from 2:45-46. Then rallied from 200 to 240 from 2:46-51. A 75 point swing in 5 minutes. $70 billion dollars of market value. Make sense to you?
The economy has been broken and the stock market has been dispatched to rescue it. Now the stock market is broken and there are no good circuit breakers that can deal with HFT and the lack of real liquidity.
Who will fix it?
Comments »I had one of the only…
My American Vanguard Corp. [[AVD]] announced a blow out number and was one of the only non- negative ETF’s or gold stocks to rise, spending most of the day up 8%.
Now Brooks Automation, Inc.(USA) [[BRKS]] reported a funking blow out number–but because it was the last one in, it was the first to hit its stop. So I sold. And I’m pissed, but I stuck to the discipline…
During times like this, news on a stock doesn’t matter, just the lack of bids. Of course things will settle down. We must maintain most of our discipline while still remaining flexible to the changing market condition.
Comments »NASDAQ TO CANCEL…
ALL TRADES BETWEEN 2:40-3:00PM GREATER/LESS THAN 60% FROM 2:40PM PRINT. Got it?
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