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

To: Bob Kim who wrote (5037)	10/14/1999 7:12:00 AM
From: gbh	Read Replies (2) \| Respond to of 10027

Bob, did you listen to CC? One of the key points was "volume and volatility". Not just one without the other. KP made a point that their worst trading environment occurs with huge volume in stock that trades in a very narrow range. He gave another recent example of something that works very well; JNPR on the day they were up 30'something a few days ago. He also stated in passing that the diminishing volatility in internet issues impacted 3Q negatively. He mentioned that a indicator for the company is the CBOE Volatility Index (???). Not familiar with this but I plan on researching it today. So yes, 3Q volume was higher than 1Q. But with lower volatility, and higher advertising expense (BTW, he stated this expense was front loaded, so I would assume it diminishes into the next couple quarters), this would easily explain away the threads somewhat misguided perception that volume alone is the prime NITE driver. Gary