Your adrenaline starts to go when the market opens in the morning. It's like sports programming.
Americans wouldn't do that [cashing out the same day]. Then they would be in the great old thing we used to call the marketplace. You know, we have hundreds of millions of stock shares floating every day. People buy them and sell them and trade them.
What Wall Street is, they're market makers. Wall Street's business model is making money on velocity of money. They're a click industry. That's what Wall Street is. They make a lot of money when there's a lot of turnover. And they make a lot of money when that velocity is fast.
Our systems are all go. At 9:30 Monday morning trading will resume on both markets, and the message will be given to criminals who foisted this on America that they lost.
It doesn't matter whether the market is up or down. All the day traders want is volatility.
When volume drops off, prices settle down. Volume is the force that turns stocks higher.
I was convinced that the trading frequency measured a fundamental heartbeat of financial markets. Clearly it reflected the flow of information. It turns out also to be closely related to measures of liquidity.
You know how on the evening news they always tell you that the stock market is up in active trading, or off in moderate trading, or trading in mixed activity, or whatever. Well, who gives a
