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Non-Tech : E*Trade (NYSE:ET)

ET 16.97

+0.1%

Nov 18 3:59 PM EST

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To: WhySoSoon who wrote (6661)	6/1/1999 11:06:00 AM
From: ecommerceman	Read Replies (3) of 13953

IW--I wasn't thrilled with the news about ML this morning, as they will likely drain off a certain older, more established investor that might feel more comfortable with their reputation. E*Trade is much edgier, more hip, and will likely be the winner with most folks 45 and under--which is obviously where the future lies. What is going to be real interesting is to see how ML deals with their brokers--I don't see how there won't be a rebellion in the ranks (would you want to see YOUR income reduced by 18%, and that may be on the low side of the equation). On the other hand, I suspect that ML management will hand out a lot of chicken soup rhetoric ("we had to do it"), throw a few stock shares at the worst casualties, and figure that they have no place else to go. I think we're going to take a short-term hit here (as we already are this a.m.), but I'm not a daytrader anyway, so it won't bother me a lot.

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