Market Structure Insights
November 16, 2016
Karen and I are in Playa del Carmen, having left the US after the Trump election. Just kidding! We’re celebrating…Karen’s 50th birthday first here on the lovely beaches of Quintana Roo and next in New York where we go often but never for fun. This...
November 9, 2016
Power changed hands in the USA today. I don’t know in what way yet because I’m writing before election outcomes are known, and about something for the market that will be bigger than which person sits in the oval office or what party holds congressional...
November 2, 2016
The Nasdaq will now run Goldman’s dark pool. Walk up to any random stranger and blurt that phrase and see what happens. Nasdaq? Goldman? Dark Pool? You’re crazy? Bloomberg reported on Halloween that banker Goldman Sachs would turn over management of its so-called dark pool...
October 26, 2016
The market appears to have become the Walking Dead. I don’t mean a collection of bodies reduced to bloody pulp by a barbed-wire encased baseball bat. That would be the Presidential election. (Aside: you who watched the new Dead episode know with nauseating certainty what...
October 19, 2016
In the five trading days ended Oct 17, 49.1% of average daily stock volume was short. “Wait, what?” you say. “Half the stock market is short?” Yes, that’s right. Short volume last topped 49% marketwide in mid-April. The market glided gently downward from there to...
October 12, 2016
Anybody ever said to you, “Do the math?” Yesterday on CNBC’s Squawk Box legendary hedge-fund manager and founder of Omega Advisors Leon Cooperman said the world is crazy. That’s anthropomorphizing the planet but I agree. He was referring to the math behind negative interest rates,...