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To: pater tenebrarum who wrote (67778)	10/11/1999 12:22:00 PM
From: BGR	Read Replies (2) \| Respond to of 86076

So, in reality, there is no timeframe, and any future recession - however distant - is proof of validity of the Austrian school's philosophy? <VBG>

To: pater tenebrarum who wrote (67778)	10/11/1999 12:22:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

Traders are on a holding pattern and hoping for a miraculous recovery of "average stock," as evidenced by: -------- October 11, 1999 -------------------------------------------------------------------------------- Knight/Trimark Warns Market Volatility Will Cause Earnings to Miss Estimates An INTERACTIVE JOURNAL News Roundup JERSEY CITY, N.J. -- Knight/Trimark Group Inc. said Monday it expects third-quarter earnings to miss analysts' estimates, hurt by volatility in the market and lower trading volumes. The parent company of Knight Securities and Trimark Securities expects to report third-quarter earnings of 17 to 19 cents a diluted share, compared with 13 cents a share, in the previous-year period. The 1998 quarter is adjusted for a stock split in April. Analysts surveyed by First Call/Thomson Financial expected the company to earn 30 cents a diluted share for the current third quarter. "The marketplace underwent a fundamental shift in the third quarter of 1999 compared to the first six months of the year," said Kenneth D. Pasternak, the company's president and chief executive officer. "During the past quarter, there were decreased trading volumes and volatility as a result of lower retail volume and greater than expected seasonality in the marketplace." Knight/Trimark said it expects to report third-quarter revenue of about $138 million, a 49% increase from $92.4 million a year ago. During the quarter ended Sept. 30, the company executed 20.4 million trades, up 95% from a year earlier, and traded about 17.8 billion shares, an increase of 88%. The company said it expects it will continue to have year-over-year volume and earnings increases of more than 30%.