Thursday, September 17, 2015

Heading For A No Bid Market: We've Been Warned

Back on August 20th, I said that Skynet was losing control, heading for a no-bid market...

Skynet was keeping the indices pinned to all time highs while heavy selling was taking place underneath and in the overnight futures:

Down volume / Up volume

Two days later the IPO ETF lost 43% at the open:

The Nasdaq 100, which had been holding the shit show together, lost 15% at the open:

Nothing has been done to investigate what happened or otherwise improve liquidity. 

Those dips got bought, but we need not assume that the next one will.