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To: Sir Francis Drake who wrote (2412)	7/15/1999 12:11:00 PM
From: Brian Nichols	Read Replies (1) \| Respond to of 10027

You couldn't be more correct. I too was watching LII and as soon as NITE hit 55 going up, the sell orders came roaring in. It dropped to around 54 5/8 and then the buy orders started to trickle in. The thing that bothers me the most is there are a lot of large block sell orders (10,000+ shares) and very few large block buy orders. Most of the buying is 100 to 200 share buys. Do the "big guys" know something that we don't?

To: Sir Francis Drake who wrote (2412)	7/15/1999 1:01:00 PM
From: Raymond James Norris	Read Replies (2) \| Respond to of 10027

The damage is that there are still some people who bought early in the mid-low 60s who may sell. I don't think the blowout at 52 was strong enough (based on volume) for all those people to give up hope and panic sell at a loss - for that to happen, NITE should have dipped just below 50 (observe, the many posts on boards saying "I'm still optimistic, but if it goes below 50, I'm selling"). Compare the spike sell off to $52 to the spike sell off two weeks ago to $49. Notice the former had higher volume than the latter. What's important is volume after the spike, but as the last sell off aptly demonstrates, it is not necessary to have extraordinarily high volume. NITE is fine as long as it manages to move up from these levels. It's currently struggling at the 20 Day which rests at $55. Part of the reason is NITE's rise - in one year its up more than 1000%. Such stocks usually have to base before they can get another upleg. Take Amazon as an example. In April, it attempted a breakout and failed - due to both earnings and the fact the stock price had appreciated considerably. I would only be concerned if NITE didn't clear $55 soon. At this point though, the chart is in tact. Conservatively Yours, Raymond J. Norris

To: Sir Francis Drake who wrote (2412)	7/15/1999 1:17:00 PM
From: Joseph Silent	Respond to of 10027

Very interesting..... buying and selling action on Thomson quotes. Its higher buying than I've seen before, and the institutional piece of the pie is big, as it has been for the past couple of days. Still selling. But also buying. Its encouraging.