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Non-Tech : E*Trade (NYSE:ET)
ET 16.36-0.8%3:59 PM EST
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To: thomas odonoghue who wrote (7439)7/2/1999 2:23:00 PM
From: WhySoSoon  Read Replies (2) of 13953
 
Although I am not the CEO, I don't like to comment on day to day price movement. As I pointed out in my previous post Message 10316531
The stock price is supported nicely by the account growth. The floor may be around $36 giving the uncertainty of interest rate is now subsided. There are still some uncertainty about E*Trade on the pending TBFC deal, how do they use the extra 300 mil authorized shares and how many account that they recruit in the last Q. The last question should be answered when the earnings release. Pay close attention to the account growth because it has less seasonal effect than the revenue growth. When volume were not so good in the last Q, people still opened accounts and played wait-and-see. The first question will be taken care when the TBFC deal closes. The second question is critical because that's where the next move will be and we will have the answer as this thing continues to unfold. One encouraging news is now that Murdoch is embracing the internet (a complete 180 degrees turn around) with Softbank. Keep in mind the Cotsakos is a director of News Corp and the relationship between Softbank and E*Trade. Anybody should see the direct link and my bet is that this will be E*Trade next big move. To recap, forget about the day to day price fluctuation, focus on the account growth and finally, don't look at the Yahoo board.
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