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

To: James Thompson who wrote (4376)	9/29/1999 4:06:00 PM
From: Kenneth R Miller	Respond to of 10027

NITE moves on Rumour or resolution of a pennant? anyway it's a break to the upside.. been waiting for that..

To: James Thompson who wrote (4376)	9/29/1999 4:13:00 PM
From: Herschel Rubin	Read Replies (4) \| Respond to of 10027

Any of the following reasons might explain NITE's action today: 1. Quarter-end Window Dressing by institutional holders is about to end. Most institutional holders like to sell their losing stocks by quarter end so their portfolio doesn't show them as having made bad investment decisions. NITE has been under heavy selling pressure over recent weeks, undoubtedly by institutions doing window dressing. Today is the day before the last day of the quarter (Sept 30). As of today, most institutions with big positions to unload have already done so (when you have a big piece to sell, you don't wait until the last day). In the next few days, the large weight of institional selling will be lifted and there may be an absence of sellers. Throw in a good news release from NITE and we'll have an explosive short squeeze. 2. Internet stocks are breaking out on high volume: AMZN, ATHM, AOL, etc. High volume in the internets always bodes well for NITE trade volume (Today's NAS volume = 1.1 Billion). Traders are realizing that NITE's Q3 may easily beat analysts lowered estimates. 3. Huge breakouts in heavily-shorted internet stocks (e.g. AMZN up $17 today) has given market makers encouragement to invoke short squeezes. NITE may be being singled out as a short squeeze candidate by the MMs as we speak. Note that NITE's 10,449,000 shares short represents 20% of outstanding shares and 10% of float! This is EQUAL TO AMZN's short interest percentages before AMZN catapulted upward today. 4. Further evidence of Market Maker squeeze intentions: Today, market makers for NITE were showing HUGE bid sizes not seen for a long time... e.g. 18,900 shares on the bid, 16,500 shares, 11,900 shares, 10,800 shares, 13,900 shares, etc. Very compelling reason to go with the flow. 5. OLB group is coming back into favor: They are all up today as trading volume has surged in the past few days. 6. At Volpe Brown Conference, EGRP is said to be "meeting or exceeding" its earnings expectations: ragingbull.com "Internet content, commerce and brokerage companies also presented at the conference. Derek Brown, an Internet commerce analyst at Volpe, said that e-commerce companies offering presentations at the conference are on track to meet or exceed expectations for the quarter. Those include Alloy Online (ALOY: news, msgs), Amazon.com (AMZN: news, msgs), ETrade (EGRP: news, msgs) and About.com (BOUT: news, msgs)." _____________________________________________________________ Go NITE! (I returned from two week vacation in AZ just in time for this).