Market Structure Insights

Steamboat Jan 31 2023
February 1, 2023

There’s what the money expects, and what it doesn’t.  It’s like the weather.  We expected winter in Steamboat. We did not expect 50 inches of snow in the last storm, 120 inches in January alone, and 311 inches for the season already (our 30-year seasonal...

January 25, 2023

The NYSE opening auction failed yesterday. Prices gyrated and trading halted in swaths of large caps including XOM, WMT, UL, T, VZ, RTX, MCD, PRU, UNP, MO and many more – trillions in market cap. It was, to quote comedian Jeff Foxworthy, pandelirium. Especially among...

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January 18, 2023

There was a country hit 30 years ago called Nobody Wins. Why drag out a 1993 song by Radney Foster?  Well, it popped into my head reading the SEC’s proposed new regulations for the US stock market. Oh, but somebody wins here. If you missed...

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January 11, 2023

I counted the times “issuer” appears in the SEC’s four new market-structure proposals.    Investors and traders (and issuers), should you care? Without issuers, there’s nothing to trade. These rules could push issuers onto the endangered species list.  You can read and comment on the...

Sunshine Peak Dec 2022
January 4, 2023

Cheers! They got it right, and they got it wrong.  I’ll explain in a moment. Karen and I took two weeks off from the Market Structure Map and disappeared into the white wilderness.  Steamboat Springs, CO logged the biggest pre-January snow season in nearly 40...

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December 14, 2022

About 35 seconds after Consumer Price Index data debuted yesterday at 830a ET, Dow Jones futures were up 950 points. What is the stock market a barometer for?  Inflation was 7.1% instead of 7.3%. The all-time high for blue-chip stocks was 36,952 on Jan 5,...

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