"Dude, you owned this story all weekend."
So said one of the many comments we received over our weekend Freddie (FRE) and Fannie (FNM) coverage. And it shows in the Traffic logs. Typically, heading into the weekend, things begin to quiet down. Friday is softer than Monday – Thursday, and the weekends see traffic cut by more than half.
Not so this weekend. Friday saw a big spike up to ~65k, then Saturday and Sunday ran hot too, with 46k and 56+k respectively.
The came today, and as of 5:05pm, traffic was already over 70k! That’s pretty big.
Now, perhaps the traffic is not the result of psychology, fear, and trader nervousness. Hell, the VIX is at the bottom of its trading range. So I am less sure if this is a case of the kind of panic that leads to traffic spikes that leads to a substantial trading rally — or evidence of the mostly mediocre job the mainstream media did covering this over the weekend. (Yes, there were exceptions).
It sure is worth thinking about.
30 Day Traffic, The Big Picture
Blog Traffic as a Contrary Market Indicator (February 04, 2008)
Contrary Indicator: Page Views Skyrocket! (March 18, 2008)
Traffic Indicates . . . (June 21, 2008)
Traffic Peaked Again Near Short Term Bottom (July 18, 2008)