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To: Sir Francis Drake who wrote (2388)	7/15/1999 2:41:00 AM
From: Raymond James Norris	Respond to of 10027

My recollection is a bit different: you posted on July 6th at 1:00 AM. Let me say you have an excellent recollection of events. 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. Thank you for that detailed description of NITE's trading for one day. But that doesn't nullify my previous contention. NITE is still forming an inverse head and shoulders that I believe has a good chance to break. I came to this board giving an update on its chart. I never promised riches nor did I give a specific date. I simply said that the chart is indicating a building of bullish strength that should break soon as bears could not hold the price down much longer. If you're going to hold me to every winch of my face, please hold yourself to that same standard. You seem eager to praise your brilliance of shorting and reversing a position over the course of a few days but fail to include commissions, taxes, and stress. No, I don't trade in and out each day. I'm in for the big run and not meaningless movements. 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. Hardly. As I stated earlier, the bears (or sellers) were able to put on a third sell off resulting in NITE retracing back to $55 (but keeping the chart formation intact). That level is still higher than the previous sell off point and is actually a bullish sign. Notice the importance of the 20 Day moving average, the best short term predictor of price movements. 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. Let me finish your story: I, having only concerned myself with the stronger move upwards and not some measly points that are impossible to call correctly in the long run, live a stress free life not having to watch my computer 24 hours a day or checking my QuotesPlus beeper every five minutes. I have a job other than trading that allows me to live with my family and enjoy a life. I'm quite content catching the beef of moves and believe that going after 3 points isn't something to be proud of because one ignores the costs of commissions, taxes, and headache that are often ignored but take a sizeable junk from one's gains. Tax time is no party either. You, on the other hand, sitting squarely in front of your computer, must live a life of darkness. You rarely see your children as they go on to graduate school and you only occasionally remember your spouse's name, being forced to constantly refer to her as "darling," "sweety," and "honey." You begin spending more and more time sitting intently watching 5/16, 3/16 points move across your screen. "Dang, I could have made a dollar," you mutter to yourself. After a few months, your computer sits in your bedroom after you moved it from your first floor so that you could be closer to the market. You often go weeks without shaving and begin to forget what month it is. Your neighbors being formulating rumors as to whether you really exist anymore. You grow old and gray only to have your last trade turn against you violently resulting in cardiac arrest. No one's home because you believe yourself to be self sufficient, and leave your only son with a memory of no father but a computer that ruled his father's life. "I never want to be like Daddy," your son mumbles at your funeral as he sheds a tear. Hmm.....I think I'll take my life. Conservatively Yours, Raymond J. Norris