a**i
发帖数: 608 | 1 Tumbleweeds Blow as Light Volumes Turn Wall Street Into Ghost Town
Published: Wednesday, 22 Aug 2012 | 11:40 AM ET Text Size By: John Melloy
A summer August is typically never that active on Wall Street. However, this
month’s volume is on track to be extraordinary light, calling into to
question the legitimacy of the recent rise in stocks and threatening the
profits of some market’s participants.
Average daily volume this month is 5.7 billion shares, the lowest monthly
average since September 2007, according to a report from Sandler O’Neill &
Partners. Three of the five days this year when volume was below $5 billion
occurred during this month alone. The other two days preceded major holidays.
“It’s only likely to get worse in the next two weeks,” said Richard
Repetto, the firm’s exchange and trading analyst, in the report. “Despite
rising equity markets, investor confidence remains low.”
The S&P 500 [.SPX 1409.29 -3.88 (-0.27%) ] touched a four-year high
on Tuesday. That followed a rally that began in June on optimism the
European financial crisis would be contained, and the Federal Reserve (
explain this) would embark on more stimulus soon.
Despite the run at the new high this week, equities have basically stalled
this month in a small trading range. And retail investors continue to shun
stocks for bonds instead.
“This low volume rally should be sold and I expect a correction in the
market to take place in the new few months,” said David Greenberg of
Greenberg Capital. “What goes up on air tends to fall like a rock when the
switch is flipped.”
Investors have pulled $15.9 billion from domestic equity mutual funds this
quarter so far, according to ICI data cited by Repetto in the report. They’
ve put $12.2 billion into bonds quarter-to-date.
Yet with volume hitting such a trough, some other factors are at work,
investors say. The trading glitch earlier this month that nearly took down
key market participant Knight Capital has caused high-frequency trading
firms to curb some of their activity, investors said.
That’s a big deal, since computer program trading sometimes accounts for as
much as 70 percent of volume on any given day. Trading in August 2012 is on
track to be down 46 percent from the same month a year ago, according to
Sandler O’Neill.
Facebook’s [FB 19.20 0.041 (+0.21%) ] IPO debacle and uncertainty
about the upcoming election were also cited by traders as reason for the
tumbleweeds on trading floors.
“I can't remember a time over the last five years where I haven't felt like
I needed to watch how S&P futures were trading over night,” said Brian
Stutland of Stutland Equties.
“There is nothing out in the news that hasn't been priced into the market
already," he said. "Come mid-September, we will get more idea how people
think this quarter earnings will play out, decisions out of Europe, and what
the election means for the market.” | j******3
发帖数: 18319 | 2 做高频交易的同学谁来说说？现在高频策略的成交量如何？
我猜想现在的情况是不是没有散户玩儿了，就剩机构对垒，两侧都不贸然出手，每天就
是守着超级计算机，与“敌人”对往。。
this
&
billion
holidays.
【在 a**i 的大作中提到】
: Tumbleweeds Blow as Light Volumes Turn Wall Street Into Ghost Town
: Published: Wednesday, 22 Aug 2012 | 11:40 AM ET Text Size By: John Melloy
: A summer August is typically never that active on Wall Street. However, this
: month’s volume is on track to be extraordinary light, calling into to
: question the legitimacy of the recent rise in stocks and threatening the
: profits of some market’s participants.
: Average daily volume this month is 5.7 billion shares, the lowest monthly
: average since September 2007, according to a report from Sandler O’Neill &
: Partners. Three of the five days this year when volume was below $5 billion
: occurred during this month alone. The other two days preceded major holidays.
| D*****a
发帖数: 2847 | 3 散户量从来就没多少吧
【在 j******3 的大作中提到】
: 做高频交易的同学谁来说说？现在高频策略的成交量如何？
: 我猜想现在的情况是不是没有散户玩儿了，就剩机构对垒，两侧都不贸然出手，每天就
: 是守着超级计算机，与“敌人”对往。。
:
: this
: &
: billion
: holidays.
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