Bank Stocks and ETFs Encompass 41% Of Today's NYSE Volume

May 6, 2009 5:37 PM EDT

Themis Trading's Joe Saluzzi notes that Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), JP Morgan (NYSE: JPM) and the financial ETFs (NYSE: FAZ), (NYSE: FAS), (NYSE: XLF) represented 41% of the NYSE composite volume today. 3.3 billion out of 8 billion shares traded.

Joe says, "All momentum and day traders", they "Busted the shorts today."

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