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To: IJReilly who wrote (2998)6/18/1999 1:01:00 PM
From: Ted David  Read Replies (2) | Respond to of 17683
 
I just called Michael and read your comments to him. His reply:

"Much of the sell side order imbalances we saw this morning were dividend related, arbitrage related, in other cases many of the underlying issues went x-dividend this week. Yes, some of this is from daytraders, but mostly as outlined above.

Hope this answers your question.

td