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Perhaps most important, gold commodity funds, which were heavy buyers, began taking profits.
So roasters were heavy buyers, seeking to lock in prices.
Foreigners were heavy buyers of stocks at the opening yesterday, traders said.
In fact I have gone from being a heavy buyer to a very occasional buyer.
Pension funds, insurers and other heavy buyers of gilts would then take the hit.
In the credit markets, foreign investors were heavy buyers of Treasury securities, which further increased demand for dollars.
Last October individual investors were heavy buyers following the 190-point drop, assuming that the market would soon regain its losses.
Restrictions were placed on purchases of municipals by banks, which had traditionally been heavy buyers.
However, market talk about the possibility that the Japanese would be heavy buyers of Treasury debt next week kept prices up.
The company's insiders all seem to have the same idea, and they have been heavy buyers of the stock of late.
As a result, investors suspect that the Japanese Government and the life insurance companies have been heavy buyers of the dollar in the past week.
Moreover, foreign investors, who were heavy buyers before the crash, are again investing in American stocks after a period of shying away.
Syndicates aside, the Swiss and the Japanese have been among the heaviest buyers.
That connection proved helpful in selling the deal to small investors in Washington state, who were among the heaviest buyers.
But despite their widespread impact on network ad sales this season, dot-com companies were not heavy buyers in the upfront, the executives said.
Mr. Herzfeld says his firm has been a "heavy buyer" of the fund since late last year.
"Many pension mutual funds that accumulated large cash positions after Black Monday were heavy buyers today," he said.
The shares opened at 47 p and climbed rapidly to 56p as a number of brokers came in as heavy buyers.
The markets then stabilized as the Bank of England stepped in this morning as a heavy buyer to support the currency.
It showed that blacks were heavy buyers of frozen and canned goods, pork products and starchy foods.
"We've been heavy buyers of zeros."
He said that West German investors had been especially heavy buyers during the last two months but that there were signs of broader international interest yesterday.
In the secondary market for Treasury securities, traders took in all these developments and were heavy buyers of notes and bonds.
The price had fallen to around $4 in early 2003, and it was at those prices that Mr. Reyes became a heavy buyer of the shares.
Texaco's examination of trading records shows that while each was a heavy buyer in January, they never bought on the same day, except on the 12th.