But such statistics, while plentiful - many large brokerages issue quarterly market reports - are not definitive.

With over 15,000 financial advisors and $2.2 trillion in client assets, it is the world's largest brokerage.

Smith Barney is one of the last large brokerages to continue paying its institutional sales force on commission.

And the reports spewing forth from the large brokerages don't make a would-be analyst's life any easier.

"I'm not sure there really is a rational explanation," said an analyst at a large German brokerage firm, who insisted on anonymity.

Some of the larger brokerages are expected to follow Pitt's lead, holding sales that tend to be localized and limited.

The stock price of Schwab, which operates the largest on-line brokerage, has soared 40 percent in the last five days.

Most large brokerage, trading group, or financial institutions will typically have both a technical analysis and fundamental analysis team.

These arrangements often involve joint accounts at the larger brokerage, with profits divided between the two firms.

Some large brokerages can arrange a purchase of the B-shares.