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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

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Aug 17 5:00 PM EST

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To: Susan Saline who wrote (4634)	10/5/1999 4:32:00 PM
From: Herschel Rubin	Read Replies (1) of 10027

I was again a buyer today (of NITE) in the wake of the Fed's shift to a tightening bias. The reaction in the markets seemed predictable (buying before the anticipated no-rate increase, selling on the news, compounded with the surprise factor of the tightening bias announcement causing the markets to drop). The markets seem to have digested the tightening bias (what else is new? -- the markets have had fear of rate hikes looming overhead since May). Now that the FOMC meeting is behind us, the markets will most likely turn attention to the Q3 earnings which are supposed to be "very very good" this quarter according to an article I read in Barron's this weekend. Yahoo announces earnings tomorrow, with $0.10 consensus. Any upside may move the internets into action, especially because YHOO hasn't had a pre-earnings runup this time. The DOW went from 10,510, or +110 pts to -123 pts at 10,277 within less than an hour. Nice volatility. NASDAQ Volume 1.205 BILLION shares. Good for NITE.

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