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

To: Sir Francis Drake who wrote (2788)	7/26/1999 4:59:00 PM
From: Herschel Rubin	Read Replies (1) \| Respond to of 10027

Volume today at 4,158,500 represents an average volume day, not a panic selloff. Most likely, margin related selling kicked in during the last hour. NITE & AMTD & EGRP & NDB basically tracked the NASDAQ chart today, albeit with the usual magnification of price moves (higher betas). For the record (again, comparing NITE to olb's for lack of a benchmark): NITE down 9.30% AMTD down 9.28% NDB down 8.05% (most of NDB's revs from SHWD market maker) EGRP down 5.46% SCH down 2.40% JBOH down 6.81% I maintain the sector is out of favor. Nothing more, nothing less. NITE's decline is not because the market "hates" NITE in particular right now - they're all being hit. Insider lockup expiration is old news - July 13th. Morgan, you still haven't explained your claim that a lot of NITE's trades today consisted of shorting (which I only hope for in the long term it's a huge plus) by looking at your Level II screen? Here's my initial question: <<<What makes you think today's drop is due to shorting? Just a guess or what? You can't determine shorting from a Level II screen, unless I'm missing something. As far as I know, only a market maker sees whether a trade is a short on the ticket (because his execution must abide by the uptick rule). >>>