Just when everyone knew the program traders were going to bail them out by buying stocks, they didn't.
The group said the specialists were more of a problem than program traders.
But once again the computers were left alone as program traders backed off voluntarily.
Had the decline continued, the program traders would no doubt have been blamed.
Some investors suggested that program traders would change their strategies.
Wall Street professionals sat back and waited to see what would happen once the program traders were forced out of the computer.
The selling of stocks by program traders, in turn, drove down stock prices even more.
The foreign brokers here are among the most active program traders.
The most popular explanation for the 1987 crash was selling by program traders.
If is frustrating for a money manager to buy a stock only to see program traders drive it down.