The Market Structure Map
October 5, 2010
The lawyers doing the writing at the SEC are good. The 104-page novella the Commission released last week with the Commodity Futures Trading Commission gallops readers spritely to an inconclusive denouement. No offense intended. For anybody versed in trading markets, the report is logical and...
September 28, 2010
Remember that movie, The Truman Show? In this epochal fake reality program, a guy played by Jim Carrey lives on camera, unaware that reality is beyond both his view and his control. This may be how stock-pickers feel in today’s equity markets. At least it’s...
September 21, 2010
The Boii are back in town! I refer not to the 1976 rock hit by the Irishmen of Thin Lizzy, but to the central European tribe that gave Bohemia its name. We just finished getting tribal in the Czech Republic and Austria, eating and drinking...
September 7, 2010
Give yourself a break! Okay, we’ll give you one. We’re cycling from Prague to Vienna, a wedding anniversary trip, and won’t be within writing distance next week. The Map will thus be on hiatus, back Sept 21. We’ve had questions about the “quote stuffing,” article...
August 31, 2010
Do you think your stock trades well? While you ponder, a confession: We’re guilty of a bait and switch. If I’d written “implementation shortfall,” which is what I mean, rather than “missing the mark” above, which is what I said, I might be responsible for...
August 24, 2010
Why do many stock prices move intraday by 3-5% or more when price spreads are in pennies? Before we answer, we enjoyed New Orleans last week, despite humidity that had us struggling to distinguish the surrounding atmosphere from Lake Pontchartrain. The NIRI Southwest Regional Conference...