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

To: Gary Korn who wrote (5193)	10/18/1999 2:51:00 AM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 10027

Gary K., you misunderstood my point. I certainly was not implying that NITE was going to reach zero. In fact, I stated repeatedly, that NITE should be bottoming, that further shorting is risky (the way it was not before), and that longer term prospects are good. It simply struck me as amusing when you said that NITE has probably "seen the worst". I immediately imagined a guy who lost 75% of his investment, being told, "hey, don't worry - the worst SHOULD be over!" Don't YOU see the humor in the situation? <<Second off, if I only knew that NITE would slowly rise, I could at least write calls against my position, and may in fact do that with some of it. My concern, however, is that certain "asynchronous events" (Herschel's term) do sometimes occur with this stock (like the MER deal) that can really move it.>> I think you misunderstood my position. I do not claim that NITE cannot run up rapidly (as it did from 34 to 40 some time ago). What I am claiming, is that such a runup is NOT sustainable (incidentally, I shorted that run - and alerted several people by PM, to make them aware of a golden opportunity!). That doesn't mean NITE won't go up. It will go up by small steps which WILL be sustainable, and it WILL experience big leaps, but those will NOT be sustainable - it will come down again, and then rise by a small amount sustainably. Just my opinion. It is sad, I think, to see people grow defensive and accusatory just because someone is not blindly cheerleading for NITE. If I express some mild skepticism, I don't think my motives should be questioned ("trying to scare"), and questiones being raised as to whether I'm "short" (as if there's something wrong with it anyway). Is it not better to have more points of view on this board, or is only one favored? This is particularly disheartening, because I don't consider myself an "enemy" of NITE - in fact I often remarked on the business model being solid, NITE eventually rising, the bottom being close etc. So, why can't I raise questions about NITE management missteps, the possibly less rosy outlook on the stock movement upward (slow) etc. without encountering rancour, accusations, and sarcasm? Frankly, it is not worth all the fighting - if you don't think there is any value in diversity, I'll let it be. Good luck in the market! Morgan