September trading volume may be 2nd highest month ever...
The following is courtesy of YAHOO poster, Jwiersch:
messages.yahoo.com
"The Nasdaq trading volume for September finished approximately as follows:
21,343,833,600 shares
This makes September the second highest trading volume month ever, second only to April's 23,426,416,600 shares. March was the third highest month with 21,196,317,900 and then July with 20,929,098,900.
For the quarter, total Nasdaq volume was 62,536,040,600 which IS AN INCREASE OVER THE PRIOR TWO QUARTERS. The 1st quarter volume was 59,097,084,600 and the second quarter was 61,553,771,500.
So, the growth rate slowed a bit during the 3rd quarter, but the overall volume still showed an INCREASE. Why all this talk about low volumes? Volumes INCREASED, just not as rapidly as in the past.
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Oilbabe, I've also contemplated the fact that the market has been already discounting, in advance, a bad October. What most people don't realize is that September is statistically the worst month of the year (NOT OCTOBER!!) with an average DOW monthly loss of -0.74%. October's average monthly loss is -0.17%. All other months of the year show average monthly GAINS.
The above statistics are for the DJIA from 1915-1998. So, I think people's perception of October has been colored by just the last TWO Octobers so that they think October is the worst month, but that is historically incorrect.
I suspect this October may be very different as there are a lot of people in cash who are afraid of October, who will realize about mid-month that the crash is not going to happen and then they'll put their money to work by joining the party... |
