Propaganda Machine Needs Oiling, GDP Needs Red Bull

With headlines like this, who can argue that the media machine, in full control for the past 3 months, has gotten skewered on its own (lack of) propaganda:

1:00 pm : A lack of upbeat headlines has allowed participants to take control of the session. In turn, losses have been deep and broad-based, leaving stocks to test a major technical hurdle.

Uhm, so who exactly was controlling the session when headlines are full of bullshit about green astroturf and what not.

In other news, JP Morgan is saying that the economy will need some serious cocaine infused red bull to compensate for the 11% new unemployment "normal."



hat tip David and Kevin Sphere: Related Content

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Goldman Sachs Principal Transactions Update: 795 Million Shares

Latest NYSE Program Trading data out. After a major ramp up the week before, total program trading dropped again to 28.3% of total NYSE volume, but still higher than the 52 week average. The 15 most active member firms traded 1.8 billion shares for principal accounts, compared to 1.9 in the prior week. The top principal trader as always is Goldman Sachs, with 795.7 million shares, higher than the 741.7 million from last week.



So between Goldman controlling NYSE single-name program trading and dark pools, and JPM dominating ETFs (and prime brokering trades based on the decision of 1 gazillion teraflop processor cycles), we get a market that looks set to rehearse for the most recent Saw sequel. If anyone (whose name doesn't have 80x86 in it) is still left trading this you have our sincerest condolences.

Sphere: Related Content

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