At the beginning of the week we said it would be crucial to watch trading volume. It was horribly light all summer, and everyone just said that it was because it was the summer. Then it was light the first week of September, and everyone blamed Rosh Hashanah.
Now, there’s nothing to blame. The individual investor is out of the game. Online brokerages are seeing massively lighter trading volume, and as this chart shows, volume appears no better than it did this summer. Quick, someone find a holiday to blame!
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