Monday, May 18, 2009

Clogged Pipes

Today's SPY advertised volume presented without much commentary, merely with the observation that, while Morgan Stanley is nowhere to be found in the top SPY IOIA advertised brokers (in a bizarro market, normal things make no sense, and vice versa), DB (together with JPM, RIEF's PBs) is scarfing up SPYs and having seconds.. and thirds... Without representing (and warranting) anything, is it not odd that those very respectable MS "pipes" which were humming and buzzing with efficiency a mere two weeks ago by orders of magnitude, have gotten completely clogged up?

The rotation at the top continues.

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