E*Trade (NYSE:ET) Message Board

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

ET 16.39

+1.1%

Dec 19 9:30 AM EST

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To: Spytrdr who wrote (8752)	10/5/1999 9:43:00 PM
From: ecommerceman	Read Replies (1) of 13953

Hell, I didn't even know American Express had a brokerage component to it; shows what an ignorant bastard that I am... I'm uncertain what this move--which is interesting, and potentially threatening--will mean to the OLBs. As Spy pointed out, not allowing free trades for folks buying and selling the same day will eliminate its attractiveness for a lot of the momentum players. Furthermore, I assume that to use the service you have to go ahead and deal with an obnoxious broker giving you the very dubious benefit of his point of view; while some folks may like that, it ain't for me. One of the reasons that OLBs have taken off isn't just price, it's the ability to make trades without having to talk to some guy with a bunch of meaningless chit-chat "how's the golf game... ...wow, you birdied that hole, that's great... ...and you're taking the wife to Europe, huh?... It'll be interesting to see what happens, but I ain't selling my shares...

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