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Non-Tech : Knight/Trimark Group, Inc.
KCG 20.000.0%Aug 17 5:00 PM EST
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To: Joseph Silent who wrote (2216)7/11/1999 12:10:00 PM
From: Gary Korn  Read Replies (1) of 10027
 
Joseph,

I can't answer your options inquiry, but I did want to chime in here about NITE generally. I'm new to the stock (unfortunately) but quite enthusiastic. Some idle thoughts:

1. There is a lot of hand-wringing about the July 13th lock-up expiration period. I think that is a big yawner. It was lock-up expiration that kept me from going long AMZN before it took off and I won't make that mistake again. Insiders know that NITE has tremendous potential. While some may shed some shares for personal reasons, the vast bulk of the shares will remain just where they are, getting an excellent rate of return.

2. Earnings growth has been tremendous. Merrill has increased estimates several times, for example. I'm sure it is still underestimating the final numbers (being the conservative house that it is).

3. Markets go up and markets go down, but NITE, as a MM, makes money on the spread regardless. So long as volumes increase, NITE should see revenue growth. How to increase volumes? Even ignoring the vast and growing US market, one can enter Japan and Euro markets, as is in the works.

4. Options premiums on this stock are huge. One can therefore buy and write covered calls (risking having the stock taken away) and reduce the effective purchase price dramatically. Or one write puts on the stocks and take home considerable premium, risking assignment at what would be a gonga effective purchase price.

Gary Korn
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