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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Stept who wrote (1316)	1/4/1999 3:09:00 PM
From: sam	Read Replies (1) \| Respond to of 41369

No. They must mirror the sp 500. But when they buy (or sell) doesn't necessarily have to be at the moment AOL begins trading on the sp 500. At least, that's the implication from the CNBC report about Vanguard. Apparently Vanguard bought 1/3 of their position before Thursday. That -- by the way -- was probably (PROBABLY) some of the buying after hours the night s&p said that aol would be included. A point I tried to make earlier is -- it all depends on the fund in particular. My guess (GUESS) is that some funds are probably forced by their charters to buy on the inclusion itself. That would explain 18 million shares after market on Thursday. Some obviously have more leeway (I'm sure its all set forth in their prospectus). Ultimately, though, it probably doesn't matter much. I wonder if Vanguard will wait till after hours to complete their purchase.