How on earth do I know how much traffic does my competitor gets and I am sure there is a way because many advertisers rightly tell me my traffic and I have to agree with them.
There are many ways to guess it I would mention them here. Alexa.com You can always use to judge the ranking of the website and you get an estimate of ranking of site from the set of people who uses Alexa toolbar and it can a good estimate. Compete.com This is US centric and can be used to get even some more idea about the ranking of the site. Yahoo Yes you can also use yahoo to an extent. Siteexplorer you can use the get the idea about the backlinks to the domains and estimate the traffic quantum. As he is your competitor you can make assumptions based on your own traffic and links. Google Google has launched Google Trends to find out the traffic trend of your competitor.