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: Sir Francis Drake who wrote (3229)	8/6/1999 4:25:00 PM
From: Herschel Rubin	Read Replies (1) of 10027

Yeah, not a good close. Some of it has to be margin-related selling which will abate if we hold these levels for a few days. NITE's relative strength compared to OLB's was poor (due to NITE's final drop on normal volume -- volume usually picks up toward the close). Nasdaq volume exceeded 1 Billion again (1.16 billion shares). If this market consolidation continues with decent trading volume, August won't be so much of a sleeper for the OLB's fundamentals after all. It would be great if NITE management came out with a statement about volume picking up in August, but for fear of lawsuits, they may have to wait until the inner circle (those who filed F-144's) has finished selling to avoid the appearance of impropriety with press releases that could be construed as hype and dump. When reviewing recent insider F-144 (intention to sell) filings, one should realize that in the case of NITE, the insider lockup expiration date (July 13th) represents THE FIRST TIME in its 4 years of existance that NITE insiders CAN SELL, so it is without a doubt that they would want to sell a percentage of their holdings for diversification purposes. Ken Pasternak has over 10 million shares and sold 300K on July 27th, I believe. I spoke with the company on these matters. He will be continuing to sell a small percentage of his holdings on a periodic basis going forward to diversify. As we know, insider sells are not as indicative of a company's forward prospect as insider buys are.

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