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

To: Herschel Rubin who wrote (3740)	9/1/1999 7:46:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 10027

Herschel, Today's news about the sale by TD Waterhouse of 1MM shares was unsettling, but at least it explained the weakness of the stock. Who knows why Waterhouse sold? Maybe, given OLB weakness, they needed to lock in some additional investment profits to help meet earnings (you can't meet earnings with unrealized gains). Also, maybe they just wanted to hold 8.5MM shares rather than 9.5MM. Incidentally, AMTD has something like $100MM of unrealized gain. Somewhere along the line, it too may want to take some of that gain for bottom line earnings. Importantly, individual insiders really aren't selling. KP has sold only about 100,000 of his shares to date, leaving him with 7.71MM shares. That is one huge bet on the future of this company. As a long termer, I just don't see selling now to wait for insiders to finish their own sales. (Imagine KP selling now, then buying back his 7.71MM shares later in the year). Gary Korn

To: Herschel Rubin who wrote (3740)	9/1/1999 11:29:00 PM
From: Dalin	Respond to of 10027

RE: Perhaps that's why volume was low in September 1998 as people were on the sidelines, much as people were on the sidelines during August 1999. Yup....1 month ahead of schedule. On the other hand, if September shows ANY increase in trading volume over July & August (which won't be hard to beat IMO), then the final Q3 tally will show a healthy sequential increase over Q2 and Q1. This would be an embarrasment to the FBCO Burnham study which forecasted gloom and doom (negative sequential growth) for Q3 trading volumes. How often have they been correct? IMHO, I expect the same as last year, only about 1 month ahead of time, although not to the same extreme. The first half of this month we will see weakness. Then we will see a rally to just before the new year. <g> After......well, I'll already be fully invested. BTY! D.