SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Knight/Trimark Group, Inc.
KCG 20.000.0%Aug 17 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: dennis michael patterson who wrote (2173)7/11/1999 2:57:00 PM
From: Raymond James Norris  Read Replies (3) of 10027
 
Could explain things of late. I sold 4 days ago for a small loss. It looked like it wanted to go higher, but someone was selling into the strength. Now we know why.


I disagree. I think this is a trap before NITE breaks through $64. Here's why:

* The stock is still in a series of higher lows and higher highs. The last rally took the stock up to $60. We passed that when we hit $64. The last sell off took the stock down to $49. If the stock can turn around before $49 (probably around $55), we will have made confirmed the uptrend because the bears are getting weaker.

* The On Balance Volume is still at a new high despite the fact the stock is 27% off its high. Friday's volume was not as strong as last Thursday's Volume when the stock hit $60.

* The 20 Day moving Average, the best predictor of short term movements, is still below the stock price. In other words, the stock probably will find support at that average (around $55) and bounce off it to move up.

I've traded NITE before, back in March and April, and I know how it trades well. It always makes a strong move to shake out weak hands before the big upmove. For reference see, late March's dip to $24 (post split) before the double, and late April's dip to $35, before the double.

Conservatively Yours,
Raymond J. Norris
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News