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To: GVTucker who wrote (147170)11/8/2001 3:36:13 PM
From: Mary Cluney  Read Replies (1) | Respond to of 186894
 
GVTucker, <<<The vast majority of the buyers were hedge funds covering shorts>>>

That makes sense to me. It sounds right, but I don't buy sellers being the people with 1000 shares or less making up much of 113M shares.

If you had 50,000 sellers selling an average of 200 shares, that would only come up to 10 million shares. I doubt there was anywhere near that many individual sellers.

My gut feeling is that it was mostly intitutional professionals heading for the exit.

It doesn't mean they know what they are doing though, but patriotism was not high on their list of concerns.

Mary



To: GVTucker who wrote (147170)11/8/2001 9:29:52 PM
From: Paul Engel  Respond to of 186894
 
GV - Re: "Why do you assume that Wall Street was on the sell side and not the buy side, when there were an equal number of both? In my checks that day with traders, the vast majority of the selling done on 17 Sep was done by mutual funds (indirectly Mom and Pop) and individual investors."

Aren't there Mutual Funds on Wall Street?

Paul


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