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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (569)	7/5/1999 3:46:00 PM
From: Robert	Respond to of 1413

Unfortunately, in spite of their claim to the contrary, the issue of the IPO is regarded as a disaster. That doesn't mean TWE is no good. Rather, they mistimed the market, and should have done it 6 or so weeks ago. The unspectacular debut has left a lot of potential investors sitting on the sidelines (like me, who was offered shares from Greenline, but declined). I have owned the parent for sometime, but was nervous during the plunge to $65. If it hits the high $70's again, I will write some long dated calls. Intended to do it at $80, but thought it might see $90 again. I was wrong....Robert

To: Mama Bear who wrote (569)	7/7/1999 5:25:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1413

Online Trades Rose 15% in 2nd Qtr, Closer to Average Bloomberg News July 7, 1999, 1:46 p.m. PT San Francisco, July 7 (Bloomberg) -- Stock transactions by individuals over the Internet rose 15 percent in the second quarter, returning to mid-1998 growth rates after two quarters of above-average increases. Investors made a daily average of about 575,000 trades over the Web in the latest quarter, or about one in six U.S. stock transactions, Credit Suisse First Boston said in a report. The growth rate is down from 47 percent in the first quarter and 34 percent in the fourth quarter of 1998. It's closer to the 17.7 percent average expansion in the six quarters through the 1998 third period, Credit Suisse analyst Bill Burnham said. ''This is pretty much the long-term growth rate for this industry, the high teens,'' said Burnham, who described the two previous quarters as ''aberrations.'' A 15 percent quarterly growth rate translates to 75 percent annual growth, which Burnham termed ''not shabby at all.'' The industry is now three times bigger in transaction volume as it was 15 months ago, after waves of advertising and increasing Internet access helped convince individuals to use the Web to buy and sell stocks at commissions cheaper than those of full-service brokerages. Online trading growth exceeded the industry overall in the second quarter: Nasdaq Stock Market and Standard & Poor's 500 volume both rose less than 1 percent in the period. A ''blowout quarter'' like the first quarter will ''probably be the biggest sequential growth we ever have,'' Burnham said. ''As the industry gets bigger, it's harder to grow that fast.'' Research Note The latest statistics, contained in a research note sent to Credit Suisse clients, are based on second-quarter volume in certain stocks actively traded by online investors, as well as spot checks with brokerages. The slower growth in the quarter means buyers of online brokers' shares are less likely to see big gains over the next few months, Burnham said. In past quarters, investors bid up online broker stocks before they reported earnings, then sold on the actual earnings report, he said. ''There's not a huge amount of upside this time,'' said Burnham. National Discount Brokers Group Inc. fell 2 1/8 to 53 3/4. Also falling were Ameritrade Holding Corp., down 1 1/4 to 40 1/2; Charles Schwab Corp., down 1/2 to 53, and E*Trade Group Inc., down 1/8 to 40 15/16.