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

To: Madharry who wrote (8256)	9/14/1999 11:08:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78817

Armin, I can't let those NITE sentences go by me -g- "I would appreciate your thoughts on NITE if you have any. It is the one stock that is hurting me right now. The consistent downward trend has me mystified." I suppose value investors would be mystified why you wouldn't be surprised in experiencing some tumultuousness, given that NITE's stock is selling at 6x sales and in a wild range of 2 to 82 (now 34) and 33x earnings and it's being a NASDAQ market maker too. It's that you ask the wrong question, imo. You should be asking why are all my other stocks doing okay? Because if none of your other stocks are hurting you now, my opinion is you are too concentrated either in industry or number of positions, or your style is very momentum correlated. Well, that's my opinion anyway. Although for me, that must mean I'm doing the right thing since I'm hurting in so many places. -g-. Lol. Paul

To: Madharry who wrote (8256)	9/15/1999 2:26:00 PM
From: Pendretti	Respond to of 78817

Thanks Armin, I will check your view with my brokers. NITE, I think this stock is a buy (not value but growth) when the market is at very low activity. Today there were several downgrades in EPS from two different brokers. The downgrades were not minor to say. So, if you expect that the coming period will be a slow period for internet brokers (like Schwab, who had 14% lower commission income in one month) I would stay away. The stock has no momentum, but will get it again if everything turns positive again. In the long run I think Internet trading is at the beginning stage and will continue to grow fast. So, in the long run the stock should be able to outperform big. I have it the stock on my first screen with US stocks and keep following this one. I like the story, but timing is everything here. I was just discussing this stock with my collegue this morning. Take care. Rene.