I blogged a few times last year that retail stock trading had jumped the shark – meaning it has gone into stupid territory to mark the beginning of its end. Here is the link to the last one http://quicktakespro.blogspot.com/2009/11/this-is-why-market-will-eventually.html.
Now that Merrill Lynch is getting into the discount brokerage game – as existing players languish and just as the report comes out that retail volume is down 30% this month. Once again, Merrill is late to the game. Didn;t they close their commodities trading unit in 2001 – just before the CRB index took off?
A great contrarian indicator in any market.
