gbh,
Thought this was interesting from Thompson I-Watch today:
17-Feb-00 14:03:47 While many financial-related issues are slumping lower
today after Fed Chairman Alan Greenspan?s ?hawkish? comments, on-line
brokers are bouncing higher. Knight/Trimark Group has climbed $1 7/8 to trade
at $37 7/8 on heavy volume. Notably, NITE has broken out of its recent trading
range, moving above $37 for the first time since mid-January. Over 5.8 million
shares have been exchanged, while the average daily volume is 2.7 million
shares. This morning, ABN Amro issued a bullish note on NITE, emphasizing
the strong rise in the NASDAQ and NYSE average trading volumes, as well as
NITE?s gain in market share. The positive sentiment has encouraged speculative
investors to jump back into the stock, advancing its recent recovery. During the
past three sessions, NITE has climbed 20%, reversing some of its 40% drop
over the past three months. The I-Watch pre-trade data is light as much of the
activity is from short-term oriented investors. However, the super buy messages
illustrate some institutional support at these higher price levels. In the post-trade
market, institutional investors have claimed 35% of the total volume. Much of
this activity stems from market makers and professional day traders.
Bob |
