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Technology Stocks : E*TRADE IPO ALERT THREAD
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To: blake roberts who wrote (48)4/2/1999 6:15:00 PM
From: Bob Duncan  Read Replies (1) of 15145
 
yeah but how many people do you know traded an extra 10-20 times just to get the platinum service...

Blake:

Certainly no one. My point is some platinum users have decided to make sure there never is an advantage to being platinum in regards to the notice. I find this amusing, but frankly the way the process works now it really doesn't matter. Only people refreshing the current offerings between 4 and 8 eastern have a solid chance of regularly getting IPO's anyway.

However, I do think I am going to suggest to a friend on mine at Etrade that they should consider a lottery system where your chances of an IPO are dictated by the # of trades you place. This way, someone that generates 10,000 in com. fees for Etrade has a higher chance then someone that simply opens an account to get in on IPO's but does not generate trading revenue with Etrade. As an Etrade shareholder this makes good business sense, and besides I think the way things are going it is going to be like a lottery system anyway. (i.e. one needs to have the luck to be refreshing at the right time of day, OR the time to sit in front of their machine and refresh constantly for a few hours every trading day.)

Any opinions on the above system? I do not intend to send an email on the above until I hear opinions, and certainly good arguments against would be nice to hear.
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