Where is the Volume?
On the downside, that's where!
Thursday the NYSE saw 11B, Friday 10B and today only 7B. Similar thing for the Nasdaq.
Thursday was not a "fat-fingered trade error". Today was not successful intervention by the ECB. It is best to stop believing propaganda. For your own financial health. Thursday was an early warning of what can happen when bids are pulled. This stock market has been pumped up by Fed stimulus. As long as they continue to throw money at it, they will keep it up. But it is not practical to keep pouring money into the stock market. At some point, if they continue to do so, interest rates will rise and a self-defeating vicious cycle will be unleashed. It may take a year or so for that to develop in the US, but I have my doubts that it will take that long...
The 1900 level on the NDX must hold. So it is no wonder why we are seeing such a struggle to hold at these levels. Will the ramp job hold? Or will it be a 2-3 day wonder? We will know by the end of the week..
Thursday the NYSE saw 11B, Friday 10B and today only 7B. Similar thing for the Nasdaq.
Thursday was not a "fat-fingered trade error". Today was not successful intervention by the ECB. It is best to stop believing propaganda. For your own financial health. Thursday was an early warning of what can happen when bids are pulled. This stock market has been pumped up by Fed stimulus. As long as they continue to throw money at it, they will keep it up. But it is not practical to keep pouring money into the stock market. At some point, if they continue to do so, interest rates will rise and a self-defeating vicious cycle will be unleashed. It may take a year or so for that to develop in the US, but I have my doubts that it will take that long...
The 1900 level on the NDX must hold. So it is no wonder why we are seeing such a struggle to hold at these levels. Will the ramp job hold? Or will it be a 2-3 day wonder? We will know by the end of the week..
posted by Matt Butler at 10:37 PM
0 Comments:
Post a Comment
<< Home