volume peaked in 2000 at over 400 million, up from 13 million in when they began requiring timely fillings with the SEC to remain listed. At that point there were over 6000 issues on the bulletin board and 3000 of them were removed Since it's inception in June, 1990, the OTC BB has grown in leaps and bounds. to comply with the new standards. Since then the number of issues has continued Average daily dollar volume peaked in 2000 at over 400 million, up from 13 million in to grow just as dollar volume and the number of transactions per day has grown. 1991. The OTC BB had no eligibility requirements or listing standards until 1999 Dollar volume has more than doubled since 2001. Average daily share volume is now above a billion and there are over 3500 issues that meet listing standards. What is interesting to note is that as this market has become more concentrated, volume has increased. Over 90% of this volume comes from the top 300 issues. We see an emerging market right here in the U.S. as well as improved and more reliable quotation instruments. The tiny effort made by the SEC in 1999 to improve quality had a huge impact and we look for continued interest from regulatory authorities and new investors. The NASDAQ and S&P futures can be powerful tools to watch for market
players control the difference between the futures and cash markets after figuring dividends and interest that could have been earned. Don't try to play the arbitrage game as it's already been played out, instead use these markets as additional indicators. Don't forget to watch the volatility measures that monitor whether the market is scared or not. The VIX for listed stocks and the VIN for the NASDAQ typically move inversely to the overall market. Watch for discrepancy's, like the market moving up, while the VIX stands still or moves up a little could be a sign of more consolidation to come. As the volatility indices move up, people are increasingly bearish causing fantastic buying opportunities. Don't think that these measures do not apply to the OTC BB, in fact volatility is what it's all about. |
PSW Staff |
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