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To: Greg Jung who wrote (4016)1/23/1999 6:51:00 PM
From: Snowshoe  Read Replies (1) | Respond to of 10309
 
The 17-point drop was precipitated by mid-day meeting that has been documented elsewhere on this thread. I'm just suggesting that inclusion on Schwab's list may have been a contributing factor.



To: Greg Jung who wrote (4016)1/23/1999 9:23:00 PM
From: F. Foos  Read Replies (2) | Respond to of 10309
 
A relative few of the shares traded did nearly all the damage on Friday afternoon. The crash happened from 1:05PM to 1:20PM. 400K shares traded in that 15 minute period triggered the share price free-fall from $47 to $30. The stampede was off and running at that point.

Multi-millions of shares were pitched into the market from 1:25PM to market close. It should be noted that there was sufficient demand in the market to absorb the huge glut of shares without further price slippage. Something like 7.5 million shares were traded in the $30 to $36 range.

Frank