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Politics : Formerly About Applied Materials
AMAT 261.90+0.4%Dec 26 9:30 AM EST
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To: advocatedevil who wrote (58823)1/15/2002 2:36:01 PM
From: Sam Citron  Read Replies (1) of 70976
 
OT- Broker consolidation and lower commissions

I recently learned that the broker I use for most of my ST trading, Dreyfus, is being acquired by Brown & Co., a subsidiary of JP Morgan Chase. This should result in a decrease in commissions for my market orders by 67% and my limit orders by 33%. Unfortunately it will not get me access to JP Morgan research. In any case, I expect to do a lot more scalping once the acquisition is finalized, thus demonstrating that there is a strong price elasticity of demand.
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