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Strategies & Market Trends : Market Guru of the Month Contest

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To: ggersh who wrote (1292)	10/3/2010 11:10:23 PM
From: Hope Praytochange	Read Replies (2) of 17549

Trading Volumes Sink Even as Stocks Rally Investors of All Stripes Sit on the Sidelines Even as Stocks Have Leaped; Decline Means Pain in Wall Street Earnings By JONATHAN CHENG And JENNY STRASBURG Where have all the traders gone? The stock market just posted its best September in decades, but hardly anyone seems to be joining the rally. Hedge funds, high-frequency trading firms and individual investors have all cut back on stock trading, leaving third-quarter trading volume 25% below the level in the second quarter. Trading on the New York Stock Exchange, the Nasdaq Stock Market and the American Stock Exchange is averaging 7.1 billion shares a day for the past three months, far below the 2010 average of 8.8 billion shares a day and back to levels not seen in more than two years. The low trading volume has raised questions about whether September's rally is signaling a broad return of confidence. It is also casting a pall over the coming earnings season for banks, brokerage firms and exchanges, which make their living from churn in the markets. For those left on the trading floor, it has made for very slow days. "Is it frustrating? Of course it is," said Kenneth Polcari, managing director at Icap Corporates and a 27-year veteran of the NYSE trading floor. "I wish it was much busier here, too, but it's a matter of where we are economically."

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