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To: scanshift who wrote (214)	2/13/1999 7:56:00 PM
From: scanshift	Read Replies (1) \| Respond to of 10027

While editing my prior post, my 15 minute time limit ran out. In my prior post I stated incorrectly: You appear to be mainly a bull, and that has been a mindset. Most traders who did have that mindset caused them to get blown out in this awesome bull market we have had. I meant to say "most traders who did not have that mindset caused them to get blown out in this awesome bull market we have had."

To: scanshift who wrote (214)	2/15/1999 2:40:00 PM
From: Curbstone	Read Replies (1) \| Respond to of 10027

scanshift, Good post, and some very thought provoking questions too. If NASDAQ were to tank in a major way several more times next week, I think my personal bottom for NITE would be around 29. (in at 37) Regarding the upper target, I would still think 65 was do-able in the near term because NITE will continue to be percieved as a "sleeper" Internet stock, but without the hype of a whateverdot.com. Regarding competition. It appears that NITE specializes in market orders. I am of the persuasion that limit orders generally work out better for the consumer, with one exception, and that is in extremely volitile markets. Personally, I don't forsee any major shift in the volitility of the NASDAQ. This, combined with the increase in new online investors bodes well for the future of market orders. Further, there is a consolidation going on in the MM industry. This actually works out well for the survivors. NITE will most likely survive. I am somewhat concerned about the addition of 9M new shares to the float. I would have to be stupid not to be. It would take a truly Herculean stock to be able to absorb that many shares without taking some kind of hit in price. (unless it is percieved as an I-net stock) The question is, is 37-38 the hit? I thought NITE was Herculean a month ago when it first hit my radar, I honestly thought it was the down market that caused this recent drop, and only found out later about this selloff and increase in float. Watching the behavior of NITE last week was actually encouraging. I think it held up quite well on down days and was ready to rumble at the first sign of a NASDAQ rally. I am still bullish on NITE but am less optimistic short-term than I was a month ago. Regarding learning to sell short. (More self disclosure) My main brokerage account is an online Roth IRA with E*trade. IRA's (to my knowledge) do not allow margin, and shorting is always on margin (correct?) Also this: A lot of shorts have the reputation of being boastful, arrogant, a purposely deceptive. I don't want to be associated with that. I don't think there is anything inherently wrong with betting that a company is going down, what I object to is that shorting, in some cases actually drives the price down. I completely object to that. I wouldn't want to be in any way responsible for driving the price of a stock down. Call me naive, call me simple minded, shoot, call me stupid if you want to, but companies are not impersonal. There are lives affected when a company's stock is driven into the cellar. When people joke that shorting stocks is "un-American," I think that is what they are referring to. Shorting stocks, especially in mass, is a concentrated, and in some cases malicious effort to crush a company for personal gain. A few companies may deserve such treatment, the majority, IMHO do not. Happy President's Day, Mike