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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Wallace Rivers who wrote (8135)	9/2/1999 10:36:00 AM
From: Madharry	Respond to of 78842

I agree about sws to some extent and looked at it somewhat. In fact I am thinking of switching some of my account over so I can participate in IPOs. The difference that I see between SWS and Nite is that SWS is on of many on-line brokers, which is just a commodity business for the most part, but NITE seems to have terrific management and seems to be unique in the field that it operates in- so i see it as having much more of a monopolistic position which I like. Also SWS may have or may in the future sell all or part of their NITE stake to fuel their expansion. I believe that NITE has gone down subsequent to the expiry of the lock-up period because many of the OLBs have liquidate some or all of their positions in order to fund their expansion and realize some profits.