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

To: blankmind who wrote (4618)	10/5/1999 4:11:00 AM
From: Herschel Rubin	Read Replies (2) \| Respond to of 10027

NITE does seem to be showing resilience. Every time NITE sustains some more punches, it seems to drop lesser percentages. NITE used to drop 9% per day on news. Lately it has sustained several hits (DLJ's 8M share distribution, BBRS EPS reduction, the big 500 pt down week for the DOW during Sept. 20-24th, etc.) YET NITE hasn't broken down to significant new lows. Rather, NITE seems to hover around this level until the offense is done throwing punches. If there is any good news for the sector -- or for NITE, we'll see some buoyancy. The psychological profile of type of buyers that have ventured into NITE in these past 6-8 weeks would be a good study. They're mostly contrarians (or masochists). And, after the drubbing of the past 6-8 weeks, one might conclude that a large portion of NITE's float may consist of patient contrarians. Judging by NITE's low reactivity to analyst unfriendly revisions, etc, one would have to agree. The composition of NITE shareholders at this juncture are vastly different from bullish momentum players. These holders are tenacious.