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

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Dec 5 3:59 PM EST

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To: Phil Tran who wrote ()	2/20/2000 12:17:00 AM
From: SLSUSMA	Read Replies (2) of 13953

Discussion on ETrade and the multiple accounts people use to score IPOs... Message 12918178 Message 12918231 Message 12921149 Message 12921465 So ETrade basically painted itself in the corner. Sounds like plenty of people have small $2k accounts (like me) and are strictly in it for the IPOs. Since EGRP is now giving away $140 now (price of EBAY) to attract each $2k account (thanks for the free money, by the way), costs of account acquisition will probably go up for the next quarter or two - offer good until July. Not looking good for the E-Groupie stockholders. But if ETrade cracks down on the use of multiple account to get around the flipping rule, then they run the risk of slowing their claim to fame - account growth. Again, not a good sign for the E-Groupies. Nice foresight, CC. When ETrade cracks down on IPOs or pulls the plug, watch those IPO accounts get transferred to Wit Capital or another OLB that allocates shares in IPOs. Hell, I know guys with 10 $2k minimum accounts just to increase their IPO chances.

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