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To: bob who wrote (11166)	2/12/1998 6:12:00 PM
From: Hawkmoon	Respond to of 31646

Bob, One of the things that I quite recently learned is that most mutual funds have a deadline of 3PM to invest funds received that day or after 3PM the previous day. This is why having substantial buying in the afternoon is often considered indicative of institutional buying. They have to invest their clients newly deposited monies somewhere and they need to do it by 3PM usually. Don't know if this applies broadly across the mutual fund arena, but it could be one explanation. Regards, Ron