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

To: S. M. SAIFEE who wrote (3438)	8/11/1999 9:49:00 PM
From: Sir Francis Drake	Read Replies (3) \| Respond to of 10027

S.M.SAIFEE - I did extensive TA work and the best analysis I could, and the result was that I thought 48 1/2 should have held. Little did I know that THE DAY BEFORE, they pulled this trick. That certainly changes things - who in their right mind is going to say: the stock is under attack, "oh goodie, buyback program cancelled, time to buy NITE". This was horrendous. NITE kept plunging. Finally I reached the conclusion that there is something rotten going on, that must account for such a violent sell off - because every analysis I did showed that this is way beyond what is justified by the factors I was aware of. I now believe this must have been the "edge" those in the know had. The person who called IR and reported back here that "they had no idea, everything is just great" - I wonder if they mentioned to him "BTW, we cancelled the buyback program, so the sell off may have been affected by it". If they did, he certainly kept it to himself. I can tell you that had I known, I too would have enthusiastically plunged into wholesale shorting, instead of carefully covering my shorts at the end of every day, only to watch it go down the next day too, so I'd again carefully short, all the while shaking my head in disbelief. Something rotten indeed. Now that this is out? Double edged sword. It is always good, once all info is in the public domain - now we know what we are up against. But on the other hand, now that the awareness has spread, it will encourage retail shorts (such as me) to be much more aggressive in the future. Plus, I cannot help thinking that I'm not the only one who thinks this is a black mark against management. That means fewer long term investors. Not a good combo with aggressive shorts. I can tell you now this stock will get no quarter. The moment this stock shows any weakness, I'll fall on it like a ton of bricks - and I'm sure many other shorts will too. I'm putting NITE in my little black book of - good short on any weakness. That means the stock will have a long harrrrd way up. No mercy. Morgan