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

To: S. M. SAIFEE who wrote (3501)	8/12/1999 6:26:00 PM
From: Sir Francis Drake	Respond to of 10027

S.M.Saifee, I make every attempt to keep my emotions out of trading - one of the first lessons one learns in the market<g>. I intend to exit this stock as an investor, and limit myself exclusively to trading it, which would include swing, position and even daytrading scalping. The exact point of exit for my long position is not clear at this point as the rally I expected this week anyway, should continue, IMO (unless the PPI numbers are a disaster). I then suppose we might have another down market before the FOMC meeting. Subsequently, after the meeting I expect another rally, and then a sell off in the fall. Therefore, the disposal of my long-term shares will be guided by how the market looks. My view of management, I hope does not cloud my perception of the stock and its potential. I thought we experienced a short term bottom at 28, and this should hold at least until the fall, IMO - at which point all bets are off. Longer term, I'm sure the stock will recover, though it may take a while before it reaches old highs. This is a simple function of capital flow - there are so many other issues out there that don't have question marks hanging over them (ECNs), and so there is no reason to immediately plunge into NITE when you could be in, say, JNPR, RHAT, or as I mentioned - SEBL under 50 (just a couple of days ago - now already over 57) - or any number of other stocks. Let me stress again, my beef, such as it is, is with NITE management, but I have been careful to say that my views should not be taken as urging anyone to buy/sell NITE. And my opinions can be disputed in any case. The future performance prospects of this stock has nothing to do with my decision to exit as a long-term holder. Morgan

To: S. M. SAIFEE who wrote (3501)	8/13/1999 1:22:00 AM
From: Gary Korn	Respond to of 10027

Long term this is a buy. I will always carry some position over night. SM, There will of course be occasions when the stock gaps down. The FOMC may do the trick on the 24th. But, as you note, long term this is a buy. Strong revenue growth cannot justify a plodding p.e. NITE jumped rapidly when the interest rate scenario last seem quiescent. I therefore think that if one believes in the fundamentals of this company at all, one would be well advised to hold overnite, as is your plan. If strong opening in the morning then may get out and look for another lower entry point Think about holding, even if there is a gap up and the threat of a pull-back thereafter. Otherwise, the short term capital gain would offset any savings you might get by selling and buying back (if possible) at a lower price. In the longer term (give it 18 months), it should work out if you just hold. Best and good luck, Gary Korn