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 (3376)	8/10/1999 4:08:00 PM
From: Ryan Mak	Read Replies (3) \| Respond to of 10027

FWIW ... from Thomson I-Watch 10-Aug-99 14:33:24 Shares of Knight/Trimark have been knocked down an additional 9% today to trade at $28 7/8 with a loss of $2 7/8. The stock has lost 64% of its value since May as interest rate concerns have ravaged the online brokerage industry. NITE, a popular holding among active online traders, which includes but is not limited to day traders, has been hit hard by margin calls and nervousness among individual investors who lack the reserves that the institutional investors have to carry them through rough times. Today's trading data is a testament to the predominance of the retail community in the stock. Of the 5.7 million shares crossed, just 6% can be traced back to trade of 10K or more. While there is a modest amount of activity stemming from institutional brokers on I-Watch, these brokers are most likely advertising on behalf of their house trading positions or short-term oriented professional traders. The more detailed review of the post-trade data reveled Charles Schwab as the largest reporting broker followed by a major market maker in the number two slot.