Here is a entertaining note from Thomsons i -watch
. The
widespread recovery in technology shares boost JDSU today. However,
month- to-date, JDSU is still down nearly 10%, due in part to rumors
regarding the supply of optical components. In today's session, volume
is slightly ahead of typical levels, with more than 8 million traded
compared to the 10-day average daily volume of 21 million shares.
Block trades account for a moderate 17% of total volume. Short-term
investors are driving today's session, with much of the participation
coming from retail investors. While JDSU is moving higher, the I-Watch
pre-trade data shows just 2 super buy messages and several super
sells. However, the amount of shares represented by the message volume
(around 450k shares) is insignificant compared to JDSU's total volume.
The institutional investors buying stock are aggressive growth
investors and professional day-traders, who rarely use brokers to work
a trade. Additionally, JDSU has a massive following from retail day
traders. Since I-Watch's pre-trade data only shows institutional
broker activity, the demand from retail investors is not represented.
So who is using I-Watch? Much of the super messages are related to
market makers, who know they can get business by advertising available
blocks of JDSU. Likewise, a good portion of the institutional portion
of the I- Watch Total Trade Volume chart is related to institutional
players. The strong presence of short-term investors will keep trading
choppy for the remainder of the session- particularly as some profit
takers move in ahead of the weekend. |
