Hourly series of summer phytoplankton biomass (ATP and chlorophyll a) and photosynthetic capacity (14C assimilation and ATP increase in saturating light) were sampled in the lower St. Lawrence Estuary during the summer of 1977. Vertical stability of the water column was estimated by the Richardson number. From the results it is concluded that the mean level of biomass is an inverse function of critical depth, likely linked to the neap-spring tidal cycle (Mf). On the other hand, the fine fluctuations of biomass and photosynthetic activity were related to vertical stability, which varies according to the semi-diurnal tidal cycle (M2). A simple model was developed on the basis of Sverdrup's critical depth, combining the M2 fluctuations in stability (degree of vertical mixing) to Mf variations in critical depth. Net biomass increases, observed in a nonturbid stabilized water column, cannot be explained by the growth rates computed from 14C assimilation, but they are consistent with the measured rates of ATP production. Spectral analyses of time series of temperature and Richardson number suggest that low frequency water column stability variations amplify the spatial heterogeneity of a reacting parameter such as phytoplankton. On the other hand, a passive scalar such as temperature does not respond to these low frequency variations of stability. It follows that the study of stability spectra may give some insight into the low frequency control of phytoplankton dynamics. Key words: phytoplankton, St. Lawrence Estuary, variability, vertical stability, critical depth, Richardson number, Kendall's cross correlation, spectral analysis