QQQQ tops 200 million shares
If my calculations are correct, the QQQQ traded over 200,000,000 shares only once before - June 24, 2002 marking the bottom of the 2000-2002 bear market. What does this mean? Is it now marking the top??? Or just another bull market low? It means something and its significance will become more clear as trading continues.
Comments
Ugly, you're right in that this does have particular significance. When traders are spooked they roll out of individual stocks and into ETFs. It's a liquidity thing. I mention this and other metrics in my examination of the market entrails.
It looks like today was also the SPDRs (SPY) biggest trading day ever.