Trader Talk

Trading Volume Picking Up


Volume picking up: 6.1 billion shares changed hands on the consolidated tape today — well above the 5-day average of 5.1 billion shares.

I have spoken often of the unwillingness of the market to give up any of its gains. Here's how it looks since the recent bottom of the market on Feb. 9:

S&P 500: up 15%

Nasdaq: up 18%

Russell 2000: up 24%

Elsewhere, While everyone was obsessed with Google after the bell, AMD — a perpetual laggard to rival Intel — also reported numbers well above expectations: a (non-GAAP) gain of $0.09 (consensus was a LOSS of $0.07), and revenue of $1.57 billion, slightly above consensus of $1.54 billion.

Guidance is fairly muted: revenue to be down seasonally for the second quarter of 2010.

After the close, AMD trading up about 1 percent, and is near a 3-year high.

Bottom line: PC shipments are improving. Wells Fargo noted that Gartner's preliminary numbers indicate that worldwide PC shipments grew 27 percent year over year in the March 2010 quarter.


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