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

To: Johnny_Blaze_420 who wrote (2754)	7/23/1999 5:13:00 PM
From: Herschel Rubin	Respond to of 10027

Johnny, Good news about Merrill. Perhaps MERRILL discretely upped their forward estimates for NITE so that their accumulation today was "above board." Then on Monday they'll distribute their new estimates over more media sources (Dow Jones Newswires, etc.) and push NITE higher with more buying. From a stochastic standpoint, NITE is turning up from another oversold condition. Follow-thru on Monday on volume would be excellent confirmation of a reversal. (BTW, I don't agree with most people who pay an inordinate amount of attention to Moving Averages. Sole reliance on EMA's is pure numerology and is the hallmark of a novice trader). I've seen so many neophyte traders talk up a storm about Exp MA's, 50Day MA's, 200 Day MA's, etc. where they try to attach mystical significance to a crossover of a particular MA. Then, if their chosen holy grail moving average day length doesn't work, they choose a longer or shorter MA time length (days) and trade on it and lose more money. To confirm this, I've seen just as many crossovers of so-called "meaningful" MA's where the stock went right back in the direction it had been going prior to the crossover. ____________________________________________________________________ For the record today, NITE showed excellent relative strength in the OLB & Brokerage sector (yes, NITE is not an OLB, but what else can we benchmark it against!): NITE +1.69% EGRP + 0.78% (A $1.00 surge in last few minutes put it in the plus). SCH - 2.98% AMTD - 4.14% (was down 6+%) NDB - 2.04% MER - 3.1% Looking forward to next week's action in NITE. Downtrends don't last forever for good companies.