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To: RODNEY R. BORDELON who wrote (5000)	10/13/1999 12:21:00 PM
From: Gary Korn	Respond to of 10027

I think they are purposely, through there analysts, hitting this sector, along with there own, to get the evaluations lower so they can consolidate the ECN, MM and online firms into there own firms. I am long the ECN, MM, and online trading firms. I hurt now, but not that bad so far. I think the market is going to turn around with respect to ECN, MM and online firms. What do you think? Rodney, People from the ASND thread know me as a conspiracy theorist, but I don't see any kind of consolidation conspiracy happening here. I think the online brokerages and MMs (NITE) came down precisely because of the bursting of the 1H99 trading bubble. Now we seem to be basing and more moderate growth presumably will kick in. NITE has the extra added advantage of getting into new markets and generating new revenue streams. A reason, for sure, to hold. Gary Korn

To: RODNEY R. BORDELON who wrote (5000)	10/29/1999 9:14:00 PM
From: Tech Master	Respond to of 10027

IMHO this is a nice time to be positioning in the sectors you mentioned: online brokers, MM co.s and ECN plays. I think we will see growth and consolidation begin again next year. Brut and Strike just merged in the ECN space. Watch for more rapid changes once the ECN co.s get SEC approval as exchanges. I see rapid acquisitions beginning in the broker space next year as well. It will be cheaper to roll up the competition instead of fighting for new accounts. FWIW- I too have been making big bets in these spaces :) TM