Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: GS_Wall Street who wrote (2376)	7/14/1999 6:30:00 PM
From: Raymond James Norris	Read Replies (2) of 10027

Today's action from a Chart Perspective: Two important things occurred today. First and foremost, notice that NITE has ended the series of lower lows each day. Today's low is higher than yesterday's - one positive sign. Second, if you take a look at Yahoo's Intraday chart at finance.yahoo.com you'll see something interesting. Around 3:45, huge volume came into NITE on the upside. Look carefully at the ending hour and how the price jumped up $1 in a matter of minutes. That was smart money coming into the stock - and a lot of it. How do I know it's smart money and not "dumb money?" Smart money always enters or exits a stock the last half hour of trading. An old adage on Wall Street is "The amateurs trade at the open and the professionals trade at the close." The best time to trade is near the end of the day because the "smart money" or "professionals" are usually right because it's their buying or selling that will move the stock. Was NITE's bounce off this $55 level a coencident? I think not. The stock has found "support" at its 20 day moving average which is at $55. This means bulls are strong enough to keep the stock from slipping below the average of the price for the past 20 days. Stocks that bounce off their 20 day average usually go on to make strong rallies. Microsoft, Cisco, and Amazon all bounced off this average recently and are making nice rallies. I look forward to tomorrow where I believe NITE will continue moving up and remove all doubt that this past sell off ended on yet a higher level than the previous one. The bulls are growing and are in control.... Conservatively Yours, Raymond J. Norris

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