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Presented with little comment except to say that the total lack of volume (and massive concentration of what volume there is at the close) is hardly reflective of a market that is anything other than broken and dying. Last January (2011) the average number …
I've been reading similar stories for a few months now, how volume is drying up and it is making things harder and harder to trade.
So here's the question: Are futures dying? Is forex picking up the slack? Who is moving from futures to forex? Retail? Institutions? Or is there no "moving", and simply less interested parties to begin with?
I remember commenting on this a year ago and some out there told me I was wrong but my thought is that they just haven't been around long enough to know and talk out of thier rear ends.
It will be interesting to see comments from PB and TT on this subject.
Anyway I don't think futures will die but will wither down to some kind of base and probably stay there for years...
I think the economy will have to pick up and even then probably some more time will have to pass before people have some confidence restored in the markets and so forth.
As it is now all I read is about is people pulling money out of the markets, Hedge funds losing money, etc...
I know the CFTC and other bodies are looking into all the HFT stuff and it's hard to say what will happen with that.
If they curbed some of the HFTs that would change things but I'm not sure how things would look after that....probably better.
Problem with curbing HFT is that hurts liquidity even more, or one would think. The question is, have other participants stopped participating because of the actions of HFT? Would they come back if HFT was curbed?
Do you believe financial institutions have just simply stopped (reduced) their bet size? Is it a per-market issue, such as the indices drying up while other markets are flourishing? Is it an exchange problem, where futures are drying up and forex flourishing?
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Mike, Mike, Mike, Mike....I'm going to have to find some stuff for you on HFTs....The notion that they provide liquidity is BS....give me some time to find some stuff to post regarding HFTs and liquidity.
I think it is a safe bet that whatever is best for the banks is what will happen. They can just write up some laws that may have helped 5 years ago, which make zero real impact on today's world of HFT. Just a hunch.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
