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

To: Raymond James Norris who wrote (2386)	7/14/1999 9:01:00 PM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

<<If you remember, I posted NITE's analysis when it was $58 and it rallied from there to $64.>> My recollection is a bit different: you posted on July 6th at 1:00 AM. When trading started on July 6th - right after your post, NITE opened at 60.875, and hit an intraday high of 64.8125 and closed slightly below the open, at 60.75. At no point, did it hit 58, though it did hit an intraday low of 59.375. Since your posting, it has never hit as high intraday as that to this day (hmmm... maybe that posting curse holds<ggg>?). But anyway, you eschew intraday quotes as for amateurs, <<Intraday activity is only a sign of amateurs trading>> so I guess we should count only the close of 60.75. Since that posting, NITE closed as high as 61.25, and has been in a sorry decline ever since (incidentally, at the time, in my posts I was beating an alarm over the way NITE was trading, just as your bullish post appeared - how tactless of me!). I realize that you have a more profound and "professional" perspective on the trading of NITE, and therefore regard that minor decline to a closing low of 55 as just amateur games. I, being a simple man, preferred to take a less far-sighted perspective, and like an impatient peasant shorted the stock to its decline, and eventually covered at an amateurish intraday level of 52 1/2, whereupon I went long, at an equally amateurish intraday level of 52 3/4. Unfortunately, as a trader, I don't have your wisdom and long-term horizons which allow for calling sophisticated chart patters promising imminent riches followed by a several point decline. Like the simpleton that I am, I grab those points, and even have the effrontery and utter lack of manners to grab intraday lows/highs. Once the decline is over, I then join in the ride up in the same carriage as you - of course, you sat there all along, calmly, and must have looked at me with amusement, as I scurried outside picking up the dimes and nickels while you relaxed looking down from your $60.75 perch. Of course, I don't understand it - you call for a longer-term perspective... yet you give us learned lectures on how this is the time to jump into NITE because holy charts which you have personally hand-drawn show that the heavens pronounce this an especially auspicious entry for a NITE shareholder. I'm confused. If you are going to be a wise old Buffet, then the time to get into a good stock is almost anytime, and one should not concern oneself with the noise of mere daytraders. On the other hand, if you do make pronouncements on trading, then timing accuracy is critical, and it is rather peculiar to disdain the multipoint decline NITE staged immediately after your bullish trumpet call, as mere "noise". Either - or. But I guess I'm too simple to grasp the strategy. Well, here I am, confused as ever, and feeling increasingly guilty about my illicitly gotten daytrader profits. Maybe I should donate them to a school for aspiring TA analysts? Oh well, I'm not going to nitpick. I congratulate you on your evident enthusiasm for NITE, a very worthy emotion, for a very worthy stock. Good luck! Morgan