Trader fatigue? After two weeks of high volume, wild trading, it is eerily quiet on trading desks today. "We have lots of people sitting on hands," one trader said.
Volume is lighter, volatility is lower. This, despite the fact that there is no big change in several news stories: no resolution in Libya, Yemen in a chaotic state, Japan only marginal improvement in the nuclear situation.
And oil, which briefly popped over $104, caused only a modest downtick in stocks.
What gives? "I think people are confused and emotionally exhausted from the whipsawing we've all been living through for the last 2 weeks," another trader told me.
Also, there has been a lot of de-risking in the last week, so there is less exposure to the market.
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