Despite maintaining her hold rating, she said, "we continue to recommend investors trade into this name for the short term."

But investors did not aggressively trade so much as inquire.

With the lack of hard news, investors traded on rumors.

Q. But would you advise investors to trade the rallies?

Furthermore, private investors cannot trade shares on terms even approaching those available to fund managers.

Those investors must endure the unpredictable nature of the open market to price and trade their shares.

For comparison, investors traded about 69 million shares of Microsoft stock the same day.

Of course, investors trade more now than they ever did.

This was all less of a problem when most investors simply traded stocks.

Index futures let investors trade without having to buy all the stocks individually.