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To: GraceZ who wrote (85529)3/26/2001 2:32:44 PM
From: oldirtybastard  Respond to of 436258
 
adjustments to these automated programs are by individuals on a pretty regular basis, don't you think? Some block trading is done at VWAP and such, but then the individual making that decision is just assimilating input from larger timeframes, as the daytrader is smaller ones. Even an index fund where emotion need not play sends it's trades through a middle man, where it does.