I've also found you can dodge specials if you time it right even if it should have hit you. The yellow flash will still be there, but you won't be knocked out. You have to dive right when they are about to hit you (this is easiest if opponent uses a knife). Since specials have a bit of a recovery time, you can then shoot them a couple of times before they have the chance to counter. (This is only useful if they're about to hit you with one)