Low trading volume is due in part to large institutional investors like pensions that are sitting out the rally. Contrary to what some think, they might not ever leave the sidelines. Strategists and analysts expect them to come back when the stability of the stock market convinces the guys running these $1 billion-plus pools of capital they won’t lose their shirts (namely, money for pension payouts). But the institutions themselves are telling a different story. Because of equity-risk controls they put in place after the 2008-2009 market wipeout, they may not leave the sidelines at all. There has been a shift in the ... (full story)