Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Sir Francis Drake who wrote (2533)	7/19/1999 11:18:00 PM
From: Lee Martin	Read Replies (1) \| Respond to of 10027

Questions for the thread: We've seen relentless selling of NITE for the last couple of weeks. Who's buying it? The stock has only been public for a year and has a relatively small float. If you don't count the discount brokers that invested in NITE there's not much institutional support for the stock. The daytraders that were once long the stock have bailed and are shorting, so who's on the other side of all that selling? Could it be that the market manipulators are doing a little dance here buying and selling between themselves as they drop the price lower and accumulate shares from the folks that thought they were long term investors when the price was going higher, and daytraders shorting? Doesn't the lower volume lately support this theory? We know we've got news coming on Wed.(before the open?) and we've been steadily selling the "rumor" of bad news for the last 2 weeks. What happens when we get the news? Are we going to blow away the whisper number and tank into the 40's? Or are we going to blow away the whisper number and have the MM's reverse, buy the "news" and blast the stock back into the 60's crushing the shorts and starting a rally that will test the old highs before the market tanks in (late?) AUG. A rally would allow the manipulators to finally distribute their shares to the public. Doesn't it make since that if they are swimming in NITE shares that they would want to rally the stock and distribute them now so they can buy them back later when the market tanks? OK- Now that I've asked my questions I'm ready to hear from some folks that know what they're talking about. Thanks, Lee