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

To: Curbstone who wrote (198)	2/9/1999 10:27:00 PM
From: scanshift	Respond to of 10027

I think there is a definite "long term" weakness in Nite's business model in that ECN's will take substantial volume and reduce Nite's current market share of executed trade on NASDAQ. I only play for the short term however, and I thought Nite was overvalued in the 40's and 50's recently, because there was some negative press. One story that stood out was where they went to a manual execution mode on some of the more volatile internet stocks. Another was where an analyst suggested that limit orders from ETrade would be moved from Nite to an ECN. Certainly those two stories exposed some of the problems of Nite versus ECN's. You may well be correct, in that whenever the general market rallies hard, Nite will pop. The question is, can Nite trade down in the high 20's or low 30's before it does. If Nite gets down there, it may be worth checking out going long the near month 30 or 35 calls for a short term play taking into effect any additional news stories on the stock.