E*Trade (NYSE:ET) Message Board

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Non-Tech : E*Trade (NYSE:ET)

ET 16.44

+1.0%

Nov 26 3:59 PM EST

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To: ecommerceman who wrote (7399)	6/30/1999 10:06:00 PM
From: WhySoSoon	Read Replies (1) of 13953

Spytrader is right. Today's action was a mixture of the followings: 1. stock rotation of daytrading. As in the case of AMTD, the stock ran away by bidding way up, thus causing more cascading effect by attracting more daytrading activities and short squeeze in some of these high flyers today. 2. Rotating out of Russell 2000 may be the main reason why ETrade is not participating in the OLBs rally. Since today's is end of June, passive index fund have to sell and the market makers knew that. So simple supply and demand ruled. 3. The pending deal of TBFC. You have a lot of short interest in ETrade due to arbitrage. This short interest will suppress the stock until the deal is closed, i.e. more shares are offering for sale. 4. Finally, the maturity of E*Trade. It is in S&P 400 Mid Cap now. With some increase in market cap and stability, it is ready to take aim at S&P 500. With the switch out of small cap rank and comes to more bigger cap arena, the move should also be less volatile with its bigger float. I still say all eyes should focus on account growth when it announces the earning.

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