I bought NITE for the same reason, as a bet on the end the correction in the bond market, and the ensuing resumption of heavier trading in stocks.
After talking my strategy over with others, I found that the ECN threat to NITE's trading volume was bigger than I had thought. I exited the stock and posted my reason here.
William,
I post regularly on the NITE thread, but have come here for what I'm told are the excellent analyses and ideas posted by some on this thread, including yourself.
Having done a lot of f.a. on NITE, I'd have to say that the ECN threat is way overblown, and has in fact taken a back seat.
The real issue with NITE is trading in the small cap stocks (where liquidity is poor, ECNs are absent, and spreads are widest).
NITE has taken a hit of late because trading in OTC stocks has been weak. When/if OTC trading resumes its prior pace, NITE's numbers will be exceptional.
Beyond that, NITE's revenue stream is headed for a big boost with options trading, set to commence 3/24.
BWDIK!
Gary Korn |
