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To: Bill Harmond who wrote (82544)	10/31/1999 4:48:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 164684

I bought NITE for the same reason, as a bet on the end the correction in the bond market, and the ensuing resumption of heavier trading in stocks. After talking my strategy over with others, I found that the ECN threat to NITE's trading volume was bigger than I had thought. I exited the stock and posted my reason here. William, I post regularly on the NITE thread, but have come here for what I'm told are the excellent analyses and ideas posted by some on this thread, including yourself. Having done a lot of f.a. on NITE, I'd have to say that the ECN threat is way overblown, and has in fact taken a back seat. The real issue with NITE is trading in the small cap stocks (where liquidity is poor, ECNs are absent, and spreads are widest). NITE has taken a hit of late because trading in OTC stocks has been weak. When/if OTC trading resumes its prior pace, NITE's numbers will be exceptional. Beyond that, NITE's revenue stream is headed for a big boost with options trading, set to commence 3/24. BWDIK! Gary Korn