To reduce those large short positions, heavy buying has been required on the part of securities dealers.
There were reports of heavy buying by both American and foreign institutional investors.
And the heavy buying sent the Dow up 115.09 points, or 1.41 percent, to 8,295.61.
In other words, their heaviest buying was just before the top.
For weeks now, the market has been rising, largely on heavy buying from overseas.
The day's rally began with heavy buying by Japanese banks.
These are just the stocks that rallied on heavy buying yesterday.
His early heavy buying had scared everyone else off.
In Tokyo, the market average rose 18.99 points, to a record 24,608.22 close, on heavy buying.
Nordstrom, the department store, rose 1 5/8, to 30, with heavy buying by institutions.