Volume pulled back in today on most of the **** stocks. Etrade is pretty high, wamuq and lehmq are absolutely rediculous. All three of those are further from the 140dma for this hour than they were the first 30m too. Nearing 3000% on leh and 2300% on wamu. Etrade is a piddly little 1000%

[Edit: Most of the rest are at or below 200%.]

Well -


Might be time to call my wifes broker and get her money out of the market. Hell mine has been out since about March of 2007. Only long position I had that wasn't just a gamble since then was MVL - and dammit my options expired worthless last winter. If only Mickey Mouse had bought Ironman just nine months sooner. ARRRR!

that is why fed should have shut all of these zombies down> What a joke this market is if you do just a little research. Banks with their **** balance sheets housing, cre, consumer, all garbage loans how long until we get to real value on this crap

I don't think you're wrong. We're going to find out how the market responds to an absence of short covering on the way down. Five dojis in a row tell us there's nobody left to squeeze.

AIG down 9%. This is starting to smell like sulfur......

Quote:

This just goes to illustrate - the market is currently being levitated on literal trash.

I have been saying it......**** floats.....BUT, Government **** levitates!

XLF levitating...

The QQQQ's on a monthly has a nice August doji sitting there.

The only way to really change this situation is for Joe 401K to stop sending his money to mutual funds. And frankly, Joe is too stupid for that.

I know a guy who came out of a meeting with a broker recently ecstatic because 'my portfolio gained almost 50% in the last couple months'.

I know another guy whose broker told him he couldn't buy short-term T bills in his retirement account back in early 2008. The broker was LYING, the guy's account balance went down 40% (as it stayed in stocks) and he stayed with the lying broker.

Then there's the 20-something who knows everything and remains happy with his decision to buy a house in late 2006 (now down about 50% on that one) and to remain in stocks in his 401K.

Oprahists one and all.

Joe 401K is being looted because he allows himself to be looted. And he's happy with the manipulation.

Been watching volume all rally long. It has been like this for a long time. Just a matter of when, not if.

Other than these half-dozen zombie shell-game stocks, this means that volume in 'real' stocks then, has really fallen off the table.

Any chance 'real' volume picks up after Labor Day when all of the pros are back in the market? I suppose it could all be 'real' volume straight down as the big boys fold up the card table, having taken the marks for all they're worth...

Dr. McHugh at Technical Indicator Index has been really accurate over the past couple of years. He recently found a forming H&S pattern in many of the global markets (Australia, Germany, Japan, et.al.), which is still unconfirmed. However, it is forming in a textbook fashion. If confirmed, the downside is virtually ZERO. (DOW under 1000 is possible)

He still has the markets in Elliott Wave terms in a Grand Super-cycle Wave IV, presently in the final Wave B up. Once this completes, if the following Wave C down forms a Zig Zag, which is the primary forecast, it means an absolutely catastrophic plunge.

The interesting thing is that all of the patterns/indicators/timings coincide for a total global economic crash.

Wonder if China and Japan tried these shell games with their markets? No matter, gravity always wins in the long pull of time. I expect no different this time around. At least we were warned.

Who's to say computers trading dogsqueeze can't keep the trend upwards, as long as there continues to be a fresh supply of incremental liquidity coming in from speculators and the Fed? All otherwise risky entities have been backstopped by the government, so no risk of any major issue going BK anytime soon (unlike 2007-2008).

If the liquidity spigot is drying up or there is a real risk of somebody big going BK without a magic backstop, that's another story. Any evidence of either? Could be, my ear isn't to the ground like many others here...maybe I missed it.

KD wrote..

Nobody - and I do mean nobody - is talking about what this sort of volume pattern means. Well, I will: this is the sort of pattern that precedes an all-on equity market collapse.

Nobody? Strong and scary words. But Pisani was talking about it all last week.

http://www.cnbc.com/id/32595057/site/140....

Bob Pisani, CNBC wrote..

I have noted all week that four stocks--AIG, Citi [C 5.0491 -0.1809 (-3.46%) ], Fannie Mae [FNM 1.98 -0.06 (-2.94%) ] and Freddie Mac [FRE 2.27 -0.13 (-5.42%) ] have accounted for 20 to 30 percent of the volume at the New York Stock Exchange (ex-Archipelago).

Bob Pisani, CNBC wrote..

So we have LIGHT VOLUME combined with CHURNING. This means nothing.

KD wrote..

Heh, I might be wrong on this, but those who "believed" in the Shanghai market are missing 1/4 of their money - so far.

25% off of the high, the only people missing a 1/4 are those that bought at the high. A run from 170 to 400 is +135% and it's still +80% above that low so why not say "but those who "believed" in the Shanghai market have almost double what they had less than a year ago."? Are markets not allowed to take a breather without calling a crash?

It's not a question of BK neccesarily - it's that the equity is worth zero to almost zero. It's all bull ****. That's all it is - fast spec money, computers, etc. until it all comes crashing down.

And I believe it's started & we've topped.

So are you shorting Ooo?

i'm not disagreeing with anyone here but what makes a crash or deep pullback ominous just because these stocks are junk? i'd like to see data or evidence of this statement. can't something else rotate into their position keeping volume up?

It goes like this... if the rise in the markets off the lows were largely due to BS trading in zero-value stocks, then all that has to come out for the system to reach equilibrium. The only thing left to question is the timing.

Unfortunately, with all the manipulation and obfuscation that has occurred, we're nearly flying totally on instruments in thick fog ... with a highly infectious and virulent computer virus running loose in the instruments making it impossible to know which readings are correct and which are bogus.

Arcone yes I'm shorting - my longs are day trades only. Those are always closed some time during the day. I'm short & adding to my shorts as we pump up. I short a few hundred shares at a time and I will be short 10's of thousands of shares of bull **** stocks that are in the 20's to 50's stock prices. I also use vectorvest to help me.

Ooo wrote..

**** stocks

Which ones?

Gen, great analysis, which by the way coincides with your Fall time frame for an all out equity crash. I believe however this will coincide with a run on the dollar due to Ben's excessive money printing.

By the way, for those of you who have not seen this JibJab creation, it really captures the humor and the tragedy of what is happening to America.

" I got emails from two more associates over the weekend telling me that their "advisors" are telling them "you have too much cash allocated; now is the time to buy."

"advisor" Translation: I make next to no commissions on your cash holdings; my goal (i.e. year end bonus) is getting you to approach a 100% equity position...