Themis Trading is an independent, no-conflict, institutional agency brokerage firm specializing in equities. The purpose of our blog is for a discussion of market structure issues as well as general market commentary.
Please note that third-party posts do not reflect the views of the Company and have not been reviewed by the Company for completeness or accuracy.
MICHAEL LEWIS says:
“The principals of Themis Trading, have done more than anyone to explain and publicize the predation in the new stock market. They deserve more lines in this book than they receive but have written their own book on the subject, Broken Markets.”
“When the last history of high-frequency trading is written, Hunsader and Themis Trading deserve a prominent place in it.”
-MICHAEL LEWIS, Flash Boys
BOSTON GLOBE: "Did you read something for Flash Boys you would recommend?"
LEWIS: "Scott Patterson’s Dark Pools, which overlaps with my own book some. What he does really well is tell the early history of automated electronic trading. I’d also recommend Broken Markets and the 1923 novel Reminiscences of a Stock Operator by Edwin Lefèvre."
-The Boston Globe, "Bibliophiles: Best-selling author Michael Lewis", March 21, 2015
11
Jun, 2009
Light Volume, Market Swings, and Wile E. Coyote.
The market again has trouble not holding near S&P = 944ish. But not for a lack of trying! We witness each day the interpretation of data to be bullish (whether we agree or not), and we witness each day the post – 3:00pm program buying. The volume is light. It takes little to swing the market. But no matter; she is tired. The market is tired. The market is Wile E. Coyote.
I personally feel it is like Wile E. Coyote: The market is unable to just stop before the cliff. She tries to slam on the brakes,but it matters not. She shoots out over the cliff, skidding, amidst a skidding audio track, goes out over the cliff for 20 yards, pauses, looks at us, and then drops.
We have been looking closely at the market for a month skeptically, and now she is looking back.