Who Needs Volume Part II

by Larry Levin

The astonishing lack of volume continued. Although yesterday's putrid volume set a record, today's wasn't far behind. There is almost no volume and volatility is absolutely absent - yet the market slowly grinds higher. I have never seen anything like this in any market before.

1) Today's rally put in another new daily high.
2) Today's rally put in another new weekly high.
3) Today's rally put in another new monthly high.
4) Today's rally put in another new high for the year.
5) A large stretch of today's fetid activity (2.5 HOURS) traded in just a 1.75-point range, which came AFTER two periods of inactivity: 30-min of 1.50-point range and a 60-min stretch of just ONE point.
5) TODAY'S RALLY WAS DONE ON ONE THE 10 WORST/LOWEST VOLUME DAYS OF THE YEAR! Who needs volume anyway?

Today's utter lack of participation by anyone has - for me - now passed the absurd and is now firmly in the realm of the surreal. Of course the longer the FED overtly manipulates interest rates, the longer the surreal will continue.

Of course we follow the trend, which is certainly up; however, even that is quite difficult when there is no volatility whatever.

Send your "thank you" notes for bastardizing the market to Zimbabwe-Ben Bernanke at the Fed and Tax-Cheatin-Timmy at the Treasury.



Previous Day's Trading Room Results:

Trade Date: 4/6/10

E-Mini S&P Trades*
(before fees and commissions):

1) No "Secrets" trades filled today.

2) Algorithm positions (5)

3) "Reading the Tape" positions (5) ...combined Secret's, Algo, & "Reading the Tape" total...+1.25




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