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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (2134)	7/9/1999 3:17:00 PM
From: JB2	Respond to of 10027

I'm a trader too; I believe it's because of the rumor that Barron's is going to blast it this weekend. I don't read that paper, but I hear it can be reliably used as a contrarian indicator. Since NITE doesn't report earnings til 7/21, this rumor/event could provide the best buying opp. between now & then, for the swing trader willing to tie up cash. I don't have the cash free to take advantage of it today, and wouldn't want to hold over this weekend anyway. Wouldn't surprise me if it dips lower, temporarily, next week as players in this sector place their money in the stocks like AMTD and JBOH that report towards the end of next week. Some chartists were saying to short it though as early as last nite, so maybe we are seeing the usual earnings season rally pattern speed up dramatically, and selloffs preceding good news instead of "selling on the news"...

To: KM who wrote (2134)	7/9/1999 3:19:00 PM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

KM - I'm with you on this one. MMs do often take out stops, on an intraday basis, and play games at the open/close. But there is this myth out there, that MMs, "institutions" and assorted bogeymen often take a stock and drive it down for a long time "to accumulate shares cheaply" ahead of some "great news". This is often the excuse you hear from longs who don't understand why their beloved stock keeps declining relentlessly. I found the opposite to be true. If there is indeed good news ahead, the stock "inexplicably" appreciates!!! Then the news comes out, and it becomes clear WHY it was appreciating. Meanwhile, NOT ONCE - at least in my experience - has it happenend that the stock steadily declined "due to MM etc. manipulation" ahead of good news. The news comes out, and it is BAD, just as the TA told you it would be. Now, maybe NITE will be the exception this time, so we'll see. But if I were to go by history, I'd say, when you see a stock behave badly - bail, the earlier, the better. Morgan