Timmay, no trades
OBAT, -$22 on 2800 shares traded.
Me, -$41 on 6400 shares traded.
Denarii, -$91 on 5200 shares traded.
Goodnight market... sleep tight... don't let the bed bugs bite.
Really? Who has bed bugs anyway? Poor people? Well, I guess I might as well get used to them.
From here on out, assume volume sucks. Guess the NYSE was wrong about the hybrid increasing volume... and whatever happened to all that "added value?" It's still full of static and shitty low volume price spikes and fills.
Again, we just missed a new volume low on the year. I'm strongly considering just booking this month as a loss and enjoying myself the next few days.
Perhaps June will be different.
Wait... who am I kidding? This isn't some aberration... we're talking long term trend now.
Last year at this time, we were trading between 1.3 and 1.6 billion on the NYSE each day. Truly, the NYSE is fucked. No one wants to trade here anymore. The hybrid market is killing the NYSE. It's been clear for the last year and a half. It will never become a true news story I guess since CNBC is up the ass of the NYSE... reporting from there and everything... but it's a fact.
So what do you do in these slow times if you're a prop trader? Wait. Pray. Go to the beach. On that note, I'm looking forward to surfing tomorrow. No daily tonight... I get the feeling that stock traders/stock blog readers are still on vacation...
Tuesday, May 27, 2008