Five Financial Stocks Dominating Market Volume
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Five Financial Stocks Dominating Market Volume
By Tyler Durden
The fact that more than the entire float of AIG has traded daily on several occasions, should be a bright red light for the regulators to analyze whether this abnormal activity is due to i) massive forced recalls of stock, forcing indiscriminate short covering, of if ii) a stock trading algorithm has essentially taken over all the trading in financial stocks, and is churning volume for the pure reason of consistently painting the tape, or collecting rebates, while the overall market drifts higher on low volume. Furthermore, if the SEC considers 5 stocks accounting 30% of all NYSE volume as a normal phenomenon, one wonders just what would cause their computerized alerts to actually go off.
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