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Bob Pisani said the NYSE did 400 million shares in the last hour of trading.
He said he had never seen major institutional orders come in like that.
Once they get past 3:30, the order imbalances are posted for everyone to see
and that makes a difference too.
Kent
-----Original Message-----
From: robert.cummings@xxxxxxxxxxxxxxxx <robert.cummings@xxxxxxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Monday, July 03, 2000 6:30 AM
Subject: Buy Program
Program buying that reversed the market Friday at 2:30 ct was one of the
strongest I've seen in a while. Not just how the S&P futures turned but the
very noticeable and dramatic effect it had on of the many of the NASDAQ
stocks I follow. Could be the market had thinned due to the coming holiday
which added to the volatility late in the day. CNBC announced earlier
Friday morning that program buying was planned for later in the trading
day. I suppose the TV announcers pick up such information from traders on
the NYSE floor. I mention this only because I haven't seen anybody else
comment on it. I've seen some pretty astounding moves in the stock market
after the fourth of July. I'm thinking the markets fixing to rock and roll
on the upside big time and Friday was the first clue. Just my thoughts I
woke up to early :).
Robert
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