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

To: scanshift who wrote (209)	2/13/1999 12:55:00 AM
From: Wall Street Jr	Read Replies (1) \| Respond to of 10027

Old news dude!!! Post another one.

To: scanshift who wrote (209)	2/13/1999 1:39:00 AM
From: Curbstone	Read Replies (2) \| Respond to of 10027

scanshift, Now this (news) is something. First impression? Sell everything, first thing Tuesday morning. Is that the impression you were trying to convey? I've been checking out what happened since that article came out. It was released on Tuesday, Jan 19, and NITE began to fall that very day. In fact about 10M shares changed hands the week the article was released. By Friday of that same week NITE had lost more than 20% of its value, dropping from 47 1/4 to 36 5/8. But the following six business days displayed a remarkable recovery. In fact, NITE completely recovered, closing on Feb 1 at 47 1/2! It should also be noted that NITE's price action has almost exactly mirrored the general NASDAQ average since the news of the etrade/ameritrade sellout. As the market fell sharply, starting Feb 3, so did NITE Interestingly, Feb 2, NITE announces they have filed with the SEC to release an additional 9M shares onto the market. 6M to come from shareholders, and 3M to come from the company. So apparently, these shares that Etrade/Ameritrade held were never part of the float. This was NEWS to me, but probably not to those who sold to lock in profits the week the etrade news first broke. So apparently NITE his being hit on two fronts, increased float and decreased revenues due the rise in popularity of the ECN's. It is my opinion that the increased float has largely been discounted into the price the first week the news broke: that 20% drop quickly followed by the rally to new highs. Whether or not the move towards ECN's(-) combined with the ongoing surge in popularity of online investing(+) will have the net effect of hammering the price of NITE remains to be seen. But from my admittedly limited perspective, it feels like there is still an underlying positive tension on this stock. NITE "wants" to rise. NITE has been gaining ground (3%-5%) literally every day that the NASDAQ rises, and some days NITE rises even as the market falters. It feels to me like there is still some life left in this stock. FWIW I don't think Tuesday will be my day to bolt, but you damn sure had me lookin' at the door for a minute. Mike