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

To: Stephen who wrote (4394)	9/30/1999 7:58:00 AM
From: gbh	Read Replies (1) \| Respond to of 10027

Bob Gabele; insider trading analyst; on CNBC just discussed NITE. He mentioned a lot of insider selling which we all know about. He also mentioned an exec, who has a "zero cost collar" at around 30 on 2M shares. This would effectively guarantee the exec, 30/share even if the stock tanks. I think this type of collar is where you sell calls against common, and buy puts with the proceeds. He mentioned he thinks this insider selling, and this large collar position, limits the upside of the stock in the "intermediate" term. Not sure what "intermediate" means. Gary