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: Gary Korn who wrote (3937)	9/14/1999 8:59:00 PM
From: gbh	Read Replies (2) of 10027

Gary, the selloff today at 3pm sharp was brutal. Almost 3M shares changed hands in the last hour. I watched 1M shares move in minutes at 3pm. MLCO was selling methodically all day until 3pm. Selling the stock down to 33 3/8, then letting it lift some, then selling again. Very orderly. Then at 3pm all hell breaks loose. Somebody wanted out of a big position very quickly. MLCO was still selling on the way down, but they quickly backed off the ask. The stock lifted in the last few minutes, mainly on ISLD (day trader) buying. Not exactly strength going into tomorrow. I'd expect the selling to continue in the morning. Chart support is at 30, and I'd guess a re-test is in store. I will be a buyer if we get there, then bounce up. If it breaks 30 on the downside, I may have seen enough for the time being... Gary

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