Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 319.11

+5.7%

Jan 15 3:59 PM EST

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To: Jerome who wrote (41758)	1/29/2001 8:58:12 PM
From: Thomas DeGagne	Read Replies (1) of 70976

A study I read recently (about a week ago) concluded that the majority of institutional trading takes place during the first and last hours of each day. Amateur hour doesn't seem to be an appropriate moniker. Perhaps 'impulse buyer' for the opening buyers and 'strategic buyer' for those at the close. The trader mentality prevails for the impulse buyer; they also dump their shares at the end of the day. My feeling is that an investor mentality among institutions prevails at the end of the day. Mutual and pension fund managers probably deliberate asset allocation during the day, have a meeting after lunch, reach a consensus, execute trades late in the day, and then go out for a beer and pat each other on the back. I don't have any hard research to support this, but this seems to be the work description I get second hand.

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