Goldman Apparently Walking the Market Up...
[ HT Mongoose ]
FN: That dirty pig Goldman Sachs (GS) is apparently walking the markets up… They seem to doing it very cheaply too.
The Incredibly Shrinking Market Liquidity, Or The Upcoming Black Swan of Black Swans: “Following on the circumstantial evidence track, as Zero Hedge pointed out previously, over the past month, the Volume Weighted Average Price of the SPY index indicates that the bulk of the upswing has been done through low volume buying on the margin and from overnight gaps in afterhours market trading. The VWAP of the SPY through yesterday indicated that the real price of the S&P 500 would be roughly 60 points lower, or about 782, if the low volume marginal transactions had been netted out. And yet the market keeps on rising. This is an additional data point demonstrating that the equity market has reached a point where the transactions on the margin are all that matter as the core volume/liquidity providers slowly disappear one by one through ongoing deleveraging.
Unfortunately for them, this is not a sustainable condition.”
The full article is definitely worth a read.
FN: That dirty pig Goldman Sachs (GS) is apparently walking the markets up… They seem to doing it very cheaply too.
The Incredibly Shrinking Market Liquidity, Or The Upcoming Black Swan of Black Swans: “Following on the circumstantial evidence track, as Zero Hedge pointed out previously, over the past month, the Volume Weighted Average Price of the SPY index indicates that the bulk of the upswing has been done through low volume buying on the margin and from overnight gaps in afterhours market trading. The VWAP of the SPY through yesterday indicated that the real price of the S&P 500 would be roughly 60 points lower, or about 782, if the low volume marginal transactions had been netted out. And yet the market keeps on rising. This is an additional data point demonstrating that the equity market has reached a point where the transactions on the margin are all that matter as the core volume/liquidity providers slowly disappear one by one through ongoing deleveraging.
Unfortunately for them, this is not a sustainable condition.”
The full article is definitely worth a read.
Goldman Apparently Walking the Market Up...
![Goldman Apparently Walking the Market Up...]()
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