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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: yzfool who wrote (3699)8/30/1999 4:21:00 PM
From: Herschel Rubin  Read Replies (3) of 10027
 
Knight-Trimark isn't necessarily being singled out. The whole OLB sector is down today:

quote.yahoo.com

With EGRP, SCH, NDB, AMTD all down comparable percentages today, the market appears to be discounting the prospects of another 1/4 point rate increase and financial stocks are taking the brunt of it.

So, I don't think we can attibute strange trading characteristics just to NITE...

And Yzfool, historical statistics show that rallies often PRECEDE holiday weekends. In fact it is so statistically significant, you can trade S&P futures on it.

But volume also accelerates AFTER the Labor Day weekend and is usually associated with a rally.

Another statistically significant timing method is to regard the first few days of each month as a buying time because mutual funds usually receive (and invest) huge sums of 401K plan money from employers and individuals at the end of monthly pay periods.

The first day of the month (September 1) is Wednesday. We'll see how these two statistical factors play out this year. With the recent 2-day decline in the averages, the market may be setting itself up for a beginning-of-month rally.

With some good news from NITE, we may make another assault on the $40's.
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