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

To: Sleeper who wrote (620)	4/28/1999 8:23:00 PM
From: michael r potter	Read Replies (1) \| Respond to of 10027

Great day, but possible dark cloud on the horizon. This past month has witnessed a fitful and uneven shift toward stocks with more traditional valuation characteristics. Internet and high PE stocks got hit hard about 10 days ago, in what may be wave 1 down. The recovery is wave 2 and wave 3, a more powerful downside event may be next. How would this effect NITE. Volume would be probably record breaking which is good for the bottom line. Unfortunately, market psychology would prevail and it would participate on the downside as evidenced by what NITE did in the first wave down when the NASDAQ broke 5% and Internets 10%. Yes, NITE did do well today with a bad NASDAQ, but today was a minor test. Maybe this is unwarranted concern, but in times of euphoria it pays to consider the event that could derail a bullish scenario. My experience tells me to be on very high alert for the unfolding of this event and take it seriously should it start. With the compression of market moves, we may not have to wait long for the answer. May could be a month of margin calls, and be aware that should some serious downside action begin, NITE is probably in a lot of margin accounts along with other high beta stocks and could be affected adversely if margin calls are above average. Controversial, but...something to keep an eye on. Technically, NITE was impressive today. Will take this evening off and just enjoy todays action in NITE. Good trading/investing to all. Mike