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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?


To: MythMan who wrote (6514)10/29/1997 9:13:00 AM
From: Joseph G.  Respond to of 18056
 
Pete, The Co. Just announced buybacks, does not mean they actually do anything. In 87, there was a ton of announcements, and very little actual buying.

IMHO, Anybody who had some large short positions, if in right mind, just had to close some, like 1/3, after Mo. Plus, most of action was daytraders, as usual. Total trade was ~$80B, which is 1% of market cap, some trades were round trips same day.

Joe