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

To: Susan Saline who wrote (4800)	10/11/1999 9:27:00 AM
From: blankmind	Read Replies (3) \| Respond to of 10027

i wish the conspiracy was so simple, merely trying to bring down the price of nite so it could be purchased cheaply. i have seen the theory, in the past, on the thread that the buyer of nite was shorting nite to bring the price. clearly the selling and price erosion has occurred as nites earnings have withered and not any conspiracy to bring down nites price for a buyout. now the question becomes one if you believe in nites expansion plans, or to cut the losses and move on.

To: Susan Saline who wrote (4800)	10/11/1999 10:06:00 AM
From: Herschel Rubin	Respond to of 10027

Sometimes management wants to "reset" their share price, whether it is for employee options repricing or new employee options issuance (MSFT always attempts to do so each qtr), or to accept a low buyout offer to avoid the appearance of a takeunder. Of those two possibilities, I do believe KP's words that he's not going to allow a buyout to happen. After all, it would not be logical to sell this company with all of its expansion plans, etc. KP seems like a very independent type and NITE seems to have the resources to do it on their own. The other possibility (mgmt wanting to "reset" share price, whether it's for employee stock options repricing, insiders wanting to buy, etc.) sounds more plausible. Suppose they decide to get all the bad news out during this slow Q3 and even cook the books in the opposite direction that you would hope for because they expect Q4 and FY2000 to be strong and they & their relatives, and their newfound buddies at Merrill want to buy now. It seems to be more of a misstep in the eyes of the SEC for insiders to buy in advance of good news than to make a quarter as bad as it can be to create low insider buy in prices knowing fiscal improvement is in the cards. If we see some insider buys when Form 4's are due next month, that'll be encouraging. Anyhow, we've essentially had the October 21st earnings announcement today. Shorts now know that not much more surprises are going to come out of the bag at this point, so they'll be covering. From now, the market is going to focus on forward prospects instead of the lousy Q3, although I'm wondering why KP didn't warn sooner. His credibility has really taken a hit after that "$0.37 cents were a few cents too aggressive" statement. Today, NITE seems to be acting like this is the final punch -- the last hurrah for shorts.