Gary,
Here's an interesting post indicating NASDAQ Sept. trading volume will be 2nd or 3rd highest month ever (Courtesy of YHOO Nite Club).
messages.clubs.yahoo.com
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floridatrader
09/29/1999 08:58 pm EDT
Sept. will be 2nd or 3rd highest volume month ever on the NASDAQ. According to MSN NASDAQ composite volume tracker, September will be the 2nd or 3rd highest volume month ever, depending on how high tomorrow's volume is. If you look at this chart keep in mind that it will not exactly reflect the NASDAQ Trader volume that is published here every month by SKRAPSE, but is is a very good indicator on a relative basis to compare volumes from month to month within this chart. Also you have to add two zero's to the end of the data (don't ask me why).
It has not updated as of the time of my posting for today, and it only shows 19 Billion shares traded so far this month, add to that today's 1.1 billion shares traded and I come up with 20.1 billion so far (remeber these numbers are only relative to the other monthly totals posted on this MSN websight). That puts September at the 2nd or 3rd highest volume month ever.
If there are over 1.1 Billion shares traded tommorow that will make Sept second only to April in trading volume, which nobody could have predicted at the start of September.
Here is the link to the volume chart it may take a few minutes to initially get the chart up, after that it loads up just like any other web page:
moneycentral.msn.com vestor/charts/charting.asp
I expect a bump up in the OLB Sector including NITE once the analysts start to talk about the possibility of higher volumes than they thought there would be earlier this month, when they were lowering all of their earnings expectations.
Also, It appears that their will be slightly higher volumes in the 3rd quarter over the 2nd quarter (keep in mind the summer trading quarter is always expected to be slow every year, so any increase should be considered very positive). I believe this could be a great way for the entire sector to get a fresh look from the many investors that thought trading volumes were slowing down. This momentum change combined with what I hope will be a high volume October, could really make for a nice rally for NITE in the 4th quarter. IMO any weekness In the price of NITE after the market figures out the MER buyout rumor is not true, is a buying opportunity. Anything under 30 is a bargin.
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