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

To: Gary Korn who wrote (3765)	9/2/1999 2:47:00 PM
From: Herschel Rubin	Read Replies (1) \| Respond to of 10027

Gary, As always, Ditto the thanks from other posters for your consistent diligence. It is much appreciated. A few comments here: ---"Given the liquidity that NITE provides, I would wager that we will see that institutional order flow to NITE continues to grow rapidly." I think in the Q2 conf call, Pasternak mentioned that there may be more institutional order flow coming from sources like mutual funds in the near future. If he was suggesting INDEX FUNDS, that could be quite a boon for NITE. Suppose for example, Vanguard's S&P 500 fund (the largest index fund) signed up NITE each time they wanted to buy/sell a basket of stocks comprising the S&P 500 index... It would be a piece of cake for NITE to get best execution for Vanguard. And the volume of order flow for NITE would be huge. Today, I'm particularly impressed with the overall market's resilience considering that the two economic reports this a.m. were UNUSUALLY BAD (employment costs went up significantly and productivity went down). As we speak, the NAZ is just down -14 and the DOW -53... Truly amazing, considering such news, IMO. Throw in the fact that the long bond yield jacked up to 6.136% and go figure why the DOW isn't still down -206 points. The fact that the market is digesting all this info in a civilized manner (although today's open wasn't very civilized!) tells us perhaps we're at a near term bottom or will consolidate here. And not to mention, volatility increases spreads -- which fattens NITE's margins! At NITE's intraday low (so far) of $30.00 only one odd lot of 100 shares and another lot of 200 shares traded. NITE just briefly visited that price level. May retest before the close.