In the Tradechat Rooms
Up-up-up, the China syndrome is in full gear and up we go into the close. MiM did not have a big buy, so there isn’t new money coming in right now driving us to these levels. Looking at the Buy and Sell likes, you can see the 3:50 pm reveal had almost 2B on both the buy and sell-side. There is a whole lot of rotation going on. Looking at our A/D lines, the SP500 was 3.3:1 at the close while those lazy small caps were up just 2:1. At some point, we should see the easy S&P 500 trader lag. Not today.
A fairly busy day on the HFT Alerts. I accidentally shut it off during the day so we missed some programs. Overall there were 24 detected programs, 18 buys and 6 sells. A busy buy day. It was a classic trend up day, buy on the open/sell on the close.