Hi JD.
Let me start by saying I am LONG on TRAC and I use Mytrack for both data feeds and online brokerage services.
I have some complaints with the service, but I have similar complaints with every OLB I've been around or heard similar stories from others that use OLB's. Growing pains - everybody's got 'em. Don't get me wrong, I'm not excusing it just trying to explain it. TRAC needs to address all of their customers' (frustrated or not) concerns.
That being said, I am long on this stock because of phenomenal growth rate of their "growth rate". The CEO has stated in previous releases that 7,500 trades per day was their "break even" point, therefore I see profits coming from the Mytrack unit:
TRACK DATA REPORTS RECORD DAILY TRADING VOLUME
FOR ITS myTrack ONLINE TRADING SERVICE
NEW YORK, NY-March 15, 2000-Track Data Corporation
(Nasdaq NMS: TRAC) today reported a new milestone for its
myTrack online trading service-11,000 daily trades. myTrack
achieved the 11,000 mark for the first time yesterday, March
14th.
Daily Trades Date First Reached
5,000 December 13, 1999
6,000 January 24, 2000
7,000 February 4, 2000
8,000 February 23, 2000
9,000 March 1, 2000
10,000 March 7, 2000
11,000 March 14, 2000
"We've now doing approximately double the daily trading volume
we were doing at the beginning of the year," said Barry Hertz,
Track Data Chairman and CEO. "Any time you can double the
trading volume in less than three months, you have to be
pleased."
Earlier this week, in anticipation of the 20,000 trade
milestone, Track Data announced "The $20,000 Guess," a contest
for its myTrack members. Users of the online trading service
will be invited to guess the first day myTrack reaches 20,000
trades in a single day. The prize for guessing the correct date
is $20,000. The contest will start April 3rd. Users will have
one week to register a guess.
Track Data is a New York-based financial services company that
offers myTrack, a fully integrated Internet-based online trading
and market data system. myTrack offers the first week of
trading commission-free. To open a trading account, go to
mytrack.com and click on the "Open a Trading Account"
button.
myTrack delivers a continuous dynamic stream of live market data
and investors' online trading activity. Trading is offered at
prices starting at $12.95 per trade. myTrack is delivered over
the Internet powered by application-based software and a constant
server connection similar to systems used by professionals,
making it faster than the HTML web site-based static pages
offered by most of its competitors, such as E*Trade (Nasdaq: EGRP),
Schwab (NYSE: SCH), and National Discount Brokers (NYSE: NDB).
myTrack delivers free streaming delayed quotes and unlimited free
real-time extended quotes, as well as breaking company news, a
trade by trade log, charting for technical analysis and a
proprietary library of intraday market statistics. For $19.98 per
month plus exchange fees, users can subscribe to streaming
real-time quotes. A menu of features, including Nasdaq Level II,
is available separately or in value packages. In addition to
PC-based trading, myTrack offers wireless access through such
devices as the Palm (made by Palm Inc. (Nasdaq: PALM)). Download
myTrack software or open a trading account at
mytrack.com or call 1-800-myTrack. For information
about myTrack's SDK, go to mytrack.com .
Track Data provides real-time financial market data, news,
fundamental research, charting and analytical services to
institutional and individual investors through dedicated
telecommunication lines and the Internet.
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