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Today's Market Action - Aug 8

edited August 2011 in Off-Topic
from the equity trading desk:

Some quick statistics from a memorable day…

• NYSE cash volumes 110% above 10-day averages, 149% above 20-day averages and 166% above 30-day averages. How do you spell r-o-b-u-s-t?

• The S&P 500, Dow and Nasdaq all have their worst one day performance since December 1st, 2008

• The S&P closes at its lowest level in 10 months: S&P down 6.66%, Dow declined 5.55%, Nasdaq fell 6.90%

• All 30 Dow stocks and all 500 SPX stocks close down on the day.

• Decliners beat Advancers 83.77 to 1 on the NYSE

• More than 1,000 NYSE stocks are at their 52-week lows.

• The Dow is down over 9% in past 3 days, SPX down over 11% past 3 days and Nasdaq down over 12% past 3 days

• Something we haven’t seen for a while a while, levered ETF trade for the close looking $4.5bn to sell

• The VIX moved up 49.3% to 47.78, less that .25 points from the Flash Crash level of 48. Typically during high volatility days, the High Frequency participants step away from the market. Given the orderly nature of the selloff throughout the day, it doesn’t seem like the HFT participants exited the market at any point – adding to the heightened volume.

• So much for a debt downgrade - 10-Year Treasury yields are down 8.54% to 2.341%.

• Gold trades up 3.23% to $1,717.70; The DXY Dollar index trades down 25 bps to 74.785

• For the astro-stock pickers among us, the S&P 500 bottomed in March 2009 at 666; it closed today down 6.66%. Another deal with the devil?

• Based on some current ETF's: Japan will open down 2.9%; Taiwan will open down 3.95%; Hong Kong will open down 2.75%; Australia will open down 4.2% and Korea will open down 4.3%.


  • Hi fundalarm,

    Thank you for taking the time to post this data. I too, noticed those 666 numbers again....a bit scary, eh???:):):)

    Our HY/HI bonds finally got the big slap today, too. I have not checked our direct funds yet, but am sure they will reflect the down moves of HYG and JNK.

    Keep your head high; and continue to take care of you and yours.
  • thanks, Mark. We've lived through this before, but it's not 2008. We'll survive.
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