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To: S. M. SAIFEE who wrote (5480)	11/2/1999 4:38:00 PM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

<<I would like to know at what price SFD is going to short this stock.>> I have very rarely kept a short in NITE overnight. The vast majority of time, I shorted intraday. However, recently I haven't shorted at all - including today. There just isn't enough reward in that. If NITE jumps by 5 points, that's a different matter - I'll short, no matter what the price (one caveat is of course, if the jump is due to some extremely significant news, like a takeover offer etc.). There is no sense in shorting NITE otherwise. Nor, in my view, is there much sense in going long (unless your time horizon is quite long). With IPO action like we've had - it is a no-brainer. Like I said Friday: "buy AKAM at any price, and watch it go up - fast". AKAM has had a tremendous run in the last 3 days - the kind of run that would take NITE forever to match in gains... why invest in NITE long, or short? As one IPO gets used up (beautiful runs like SCMR!), move on to the next - this coming Friday, we will be giving money away with a stock IPO symbol COBT. Those that don't want to take the free money, are welcome to stay in NITE (long or short). Morgan

To: S. M. SAIFEE who wrote (5480)	11/2/1999 4:41:00 PM
From: gbh	Respond to of 10027

SMS, well, there were about 1M shares turned over in the last 10 minutes. This is pretty huge in my book. Its quite possible the stock may have peaked short-term. I will also be a buyer on any dips from here. I think we we broke back below the psychologically important 30 mark, some of the "get out even" sellers let the stock go. I was actually profitable in this stock today, until the last half hour kicked me back negative. I would agree with SFD (as unusual as that might sound <g>) that the road back up will not be a straight shot. However, if vols stay high, and the earnings picture begins to take shape, 30 won't be much of a barrier. Gary