– Stock Buybacks Account For About 20% Of Yesterday’s Buying: Goldman (ZeroHedge, Feb 3, 2015):
While we already know that there is only one true irrationally non-economic buyer of stocks in the US equity market, getting confirmation from none other than Goldman Sachs is another matter…
GS: “BUYBACKS yday accounted for 17% of our total flow, at times 33%”
Sourced from a run, this explains the machine-like vertical buying panic of the completely indiscriminate “well stocks are down and we need to maintain our bonuses) corporate buyback machine.
…
The rest of it involved high frequency skim and sell.