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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: Jerry Olson who wrote (2543)7/20/1999 10:24:00 AM
From: Sir Francis Drake  Read Replies (3) of 10027
 
Quick update guys, sorry for the brevity - I'm trading NITE on the short side, as I have been the last few sessions.

There was a huge fight around 51, but I have to tell you, it was MLCO on the bid, I believe it was a fake to lure in traders to support the price. A lot of puzzling things though, as I saw also a 100K buy. However, my feeling is that NITE has further downside. Please note that I am short (just brief trading shorts), so my perspective may be distorted somewhat. However, I still believe there is some downside short term. The 50 level must hold, or there will be trouble. I expect a slight pickup EOD - perhaps folks covering (I know I don't want to be short going into the earnings, even though OLBs and many techs sold off after earnings).

Good luck!

Morgan
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