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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.23

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Jan 23 4:00 PM EST

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To: Johnny Canuck who wrote (40245)	9/17/2003 11:53:56 PM
From: Johnny Canuck	Read Replies (1) of 70044

E-Trade daily avg. revenue trades off 16% sequentially (ET) by Michael Baron NEW YORK (CBS.MW) -- E-Trade Group (ET) said it averaged a total of 113,405 revenue trades per day in August, a sequential decrease of 16 percent. The Menlo Park, Calif., financial services firm said, however, that total daily average revenue trades for the third quarter are tracking 10 percent ahead of its second-quarter figures through Sept. 12. In the first nine trading days of September, U.S. daily average revenue trades jumped 36 percent on a sequential basis, the company said. Total active accounts grew to 3.6 million in August. E-Trade also discussed its mortgage business. "Rising interest rates over the past couple of months translated into an industrywide contraction in mortgage refinancing applications in August," said Jarrett Lilien, the company's president and COO, in a press release. "Given the highly variable expense structure in our mortgage operations, we have been able to respond quickly to this anticipated decline in borrowing activity by taking the appropriate steps to reduce costs." The stock closed Tuesday at $10.15, up 4 percent

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