Ticker Talk:

After two quarters of blistering growth, online brokers experienced their biggest trading volume decline yet in the second quarter, according to an estimate Wednesday by Chase Hambrecht & Quist. Firms saw a 25% drop in trades in the three months ended June 30 versus the first quarter, Chase H&Q; said. Nasdaq trading volume, which includes many of the tech stocks favored by online investors, fell 12%. “However, volumes began to pick up at the end of June and could continue to increase if a meaningful summer rally ensues,” wrote Chase H&Q; analyst Greg Smith. A healthy initial public offering market, which tends to put online traders in the mood, could help volumes as well.”