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

To: blankmind who wrote (7271)	2/16/2000 8:12:00 PM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

blankmind - no apologies necessary - I'm sure it was all in good fun. As to the rumor (I assume you mean Bear Stearn gobbling up NITE) - all I can say is: 100% GARBAGE. I can see why BS might LIKE to own NITE - after all, they are a poor also-run in the MM game themselves. In fact, this is another major danger of a low share price - I keep pointing out on this board: what if Merril Lynch or someone like that, takes advantage of the depressed share price and makes a low-ball offer? It would be very sad, if after all this, the company was stolen for cents on the dollar (of future potential). Now, having said that, I give no credence to the rumor. KP said he is not interested in selling. I think KP is very ambitious, and probably has plans to expand and grow the company many-fold. I don't see him selling out for peanuts to BS. Another minor issue, is that if BS now made a bid for NITE - you'd see lawsuits flying so fast on account of the Amy Butte report, your head would spin. Today was better volume on NITE, though I have got to tell you - I've been in the market for a long time, and if this wasn't "managed" trading today, I don't know what is. The MMs had a firm hand here and kept it rigidly under control (they didn't show their hand - except for PRUS, they did their deeds through ECNs) - forget about "supply and demand". This was engineered, period. I have seen this before in NITE (I even wrote a post to that effect back in July or Aug) - just look at the finish. The stock was boxed in to close at exactly 36 - I saw it all on LII. This is a number traders are watching, because NITE failed to break and HOLD 36+ on the last run. If the stock fell below 36, people had their strategies. If it broke above 36, say 36 5/16 or better, then it would be very bullish indeed. So, what do they do? Steer it to print 36 exactly - painting the tape if there ever was any. I'll tell you one thing - put away your charts today. This stock is being "managed". I'm disgusted, because it is easier to "manage" a stock when the volume is low, and the volume has been very low the last 2.5 weeks or so. Makes it that much easier. Accordingly I'm not going to make any grand announcements on today's trading, drawing conclusions, analyzing it etc. - the data is tainted. That is why I didn't want to comment on today's price action in contrast to yesterday. Morgan