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Technology Stocks : E*TRADE IPO ALERT THREAD
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To: netinvestor2 who wrote (59)4/2/1999 8:27:00 PM
From: Tom_  Read Replies (1) of 15145
 
Re: no profit trades.

Hi Ramon!

"how exactly do you do 50 no profit DOW trades that cost 62cents?"

Find two very slow moving DOW stocks. JNJ and BA. Wait till they look like they've settled. Put a BUY in at the bid and wait for it to fill. When it fills, immediately put in a SELL at the bid, which will fill instantly. Then put another BUY in at the bid and wait again...lather, rinse, repeat, etc.

I got caught once in 25 roundtrips and had to sell at a sixteenth higher, but since it was only for 10 shares, (why risk more?), my loss was 62 cents.

Of course, realize this whole thing was only a ploy to keep E*Trade Platinum status and that it would only work when E*Trade gives you a commission-free day in honor of DOW 10,000. I'm out a thousand dollars on commissions, paper-loss, that they will refund me in 2-3 weeks. They say.<g>

Best wishes,
Tom
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