Alexander
User
Platinum Boarder
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margin selling - 2005/05/16 11:20
When people are stubborn and try and hold through margin calls (possibly occurring here in the steel stocks) and the margin brokers request more funds as collateral, if they do not receive the required funds by 2pm the day after the margin call (bank wires generally end by 3:00pm) they will simply dump out the positions at the time and generally no later that 2:45pm. Interesting how close that time coincided with the low in ALCOA today, and how AA made two last waves down (one of 30 cents and the second of 35 cents) starting right at 2pm 
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