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

To: Sir Francis Drake who wrote (2383)	7/14/1999 8:21:00 PM
From: Raymond James Norris	Read Replies (1) \| Respond to of 10027

>>As a past critic, let me stress that I appreciate any opinion/analysis you may have regarding NITE or any other stock<< Mr. Sir Francis Drake, That's very kind of you. I enjoy sharing anything that might be able to contribute to these boards. On a different note, weren't you a tiny bit premature when you came on here recently as NITE was bumping against the 60-64 barrier, to announce that NITE is on the verge of a breakout? That really does not qualify as a breakout when the stock soon thereafter declines steadily until it hits an intraday low of 52. You spoke of a "head and shoulders" pattern - ummm... it is not nice when an additional decline occurs on the other side of such a magnitude. Interestingly, at the same time frame that you posted your "breakout" post, a poster on another board posted an analysis that accurately predicted: "Breakout? Not yet": Ahhh...there's the critique I was waiting for. I didn't think you could post without trying to elevate yourself in some way. Let me respond to you in this way: His analysis was done after mine. That is, he had more trading days to work with. The analysis I posted I still stand by. I was well aware that the stock was overbought but such an occurence is common right before a strong breakout. The day he looked at the chart, it was clear that bears had one final selling pressure to put on that resulted in a lowest closing price of $54, still well above the $49 that they had brought it to earlier. So I stick to what I said: NITE is forming an inverse head and shoulders and this rally should be the one that takes it through definitiveily. If you remember, I posted NITE's analysis when it was $58 and it rallied from there to $64. (as I posted here, I shorted NITE just under $60, and covered - posting at the time - my cover at 52 1/2, and I went long at 52 3/4 - all this was posted intraday at the time of my trades). My Dear God! Are you serious? Do they have some kind of medal for you? Now, wouldn't you say, his diagnosis was far more accurate than yours? Note, he said "not yet" - meaning, you and many like you were too early. Wouldn't you say it was unfair to compare apples and organes? His analysis was done days afer mine. Why is it you must reassert your superiority here? By contrast, that poster was right. Sure, you can say - it will go up in the future - ummm... we know that. The questions is when. You called it too early - that's the plain fact. The formation is still in tact and the breakout is still coming. If I make 30% but I'm off by a week, I couldn't care less. On a joking note - I noticed on the Yahoo board there is a character "allnigher_99" who maliciously associates your posts appearing, with NITE tanking. Thus far, he has been uncannily right - several times. He seems to forget the breakout in March which I posted about in NITE well before the take off. And he hasn't been right. As I mentioned earlier, NITE rose 10% since I posted there and then fell back. I thought you didn't concern yourself with the Yahoo! boards because they're "garbage." Remember? PS - NITE did not "bounce" off your $55 target - it "bounced" off the $52 price If you were a student of charts, you'd understand that intraday activity is not important. IF a stock breaches a support intraday, it means nothing. The closing price is what is important and NITE, on a closing basis, bounced off the 20 Day Moving Average. Intraday activity is only a sign of amateurs trading. In other words, the correct buy-in should be at the bounce point of $52 area - not the $55 number. If you set an order for NITE at $55, you'd be sitting on a "no-gain" for the second day - as a trader, it is not acceptable For a day trader it's not acceptable. Oh but wait a minute....I'm not a day trader! So one day's activity doesn't matter to me!! Hooray! Please, keep the criticisms coming. You can't have anyone look smarter than you now.