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

To: Sir Francis Drake who wrote (7710)	4/4/2000 8:52:00 AM
From: Kip518	Read Replies (2) \| Respond to of 10027

Jeffries downgrades NITE this morning from buy to accumulate

To: Sir Francis Drake who wrote (7710)	4/4/2000 10:21:00 AM
From: theniteowl	Read Replies (1) \| Respond to of 10027

Morgan, I can understand that caution should be exercised when trying to use TA as the sole means of determining price movement, but I also thought that the idea of prices on a chart and the pattern that they make, are a reflection of news, supply/demand, and general market conditions for the stock price. Even before the 3Q earnings shortfall, the prices were moving lower, almost giving a warning of things to come, and maybe this is easy to say in hindsight. Also, the past year of uncertainty for NITE with respect to competition on one hand and the strong earnings and growth on the other, with the OLB shares hanging overhead and many other factors is reflected in the price swings, indicating an area of indecision. I agree with your statement about the levels of support and resistance changing as time goes forward and this fact makes perfect sense to me, as did your volume analysis. If I understand this correctly a resistance level that is say six months old, may no longer be a resistance level for one stock, but may still hold for another depending on how many shares have subsequently been traded at or near that price level. If there is a book on this particular subject please let me know, looking for some light summer reading <ggg>. Thanks for your time.