E*Trade (NYSE:ET) Message Board

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

ET 16.95

+0.1%

2:23 PM EST

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To: Smiling Bob who wrote (12214)	3/3/2000 10:30:00 AM
From: milkenshair	Read Replies (1) of 13953

I've noticed the pattern you describe in my own trades. Placing an at-market order with e-trade is the kiss of death. A few times I tested e-trade's market maker excesses by placing two small trades at the same time, one with my other online broker and one with E-trade. My non-e-trade order went through in a few seconds while e-trade took almost 7 minutes with e-trade's MM getting a nice profit. I also noticed that when I placed limit orders [which would provide less profit for e-trade's MM], then the MM would not execute the order, even though through my other online broker's realtime ticker I could see my e-trade limit order met the ask price for over 15 minutes! Bottom line: in my opinion e-trade baits simple folk with the $19.95 per trade price. Then they screw traders with undisclosed MM tactics designed to maximize profits to e-trade. I mean, $45 million "secret" income in one year from MM activity, that is ridiculous and greedy. By secret I mean to ask, how many traders know that in each of his or her transactions how much MM profit was made? How many people know about e-trade's $45 million MM income? In any business $45 million is a lot of dough. It's one thing to realize a small MM profit on each executed order, but e-trade goes too far with it's aggressive MM manipulations. EOM

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