Has everyone noticed the very low trading volume in both MRVC and LMNE?
In LMNNE we could very well set a record low. (Low was 78K on 8/13/01) We likely will not set a record for MRVC (low was 432,000 on 7/3/03) but for an options expiration Friday, it's very low. I was checking MRVC volume on a 30 minute basis and the volume for the 30 minutes beginning 11:30 EST was a record. The large trades (10K +) were at the beginning and middle of day and were buys.
What does it mean? Beats me, but my guess is that traders are waiting and watching. If we look like we're going to break $5, volume will certainly pick up. Probably if NAZ starts to recover, we'll also see a surge. Overall, on a day when NAZDAQ is teetering on the brink, I think it's positive.
Bruce |
