EXCERPT:
What is amazing but not that surprising is the markets have made back all that was lost up to last Thursday’s crash day. All in less than one weeks time. Those who were scared out by the Euro situation or from an eroding market are out. They and their supply of stock are gone and are no longer overhanging the markets. A plethora of stop losses were taken out eliminated any festering near-term selling pressure. The computers that melted down the market on huge volume have recovered it on lighter volume. That is exactly the way the market has been operating the entire way up.
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Scott,
as a professional investor and commentator, can you give an estimate on how much general interest has declined in the market by the public in the past decade? I don’t know many people who talk about investing anymore. Everyone got burned twice and has packed it in. If HFT computers account for 60ish % of trading, then volume is even lower than we think.