Further evidence of these traders' influence can be seen in the trading pattern since the October collapse.

But the October collapse could still prove an exception because of changes in the nature of the stock markets.

The stock market, which has been climbing since the first of the year, last week rose to its highest level since the October 1987 collapse.

Since the October collapse, that hazard has been cited for the growing concern about the specialists' capital position.

There was no second crack in the October 1987 collapse.

Some stock market people are more optimistic and even see a benefit in the October collapse.

Since the October collapse, individual investors have shied away from investing in greater numbers.

Technical analysts say the line was signaling the October collapse.

It would represent the most significant change in the way the market functions since the October collapse in prices.

But in the October collapse, even liquidity was no protection from the havoc.