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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (7092)	2/6/2004 10:18:10 AM
From: russwinter	Respond to of 110194

Here's more Ameritrade data on Joe, huge margin buying in January. Reuters UPDATE - Ameritrade reports record trades, ups profit view Friday February 6, 9:58 am ET NEW YORK, Feb 6 (Reuters) - Online brokerage Ameritrade Holding Corp. (NasdaqNM:AMTD - News) on Friday said its customers in January conducted more stock trading than ever before. The company also raised the lower end of its full-year profit forecast by 4 cents per share. Ameritrade shares rose 2 percent in early trade. Ameritrade, based in Omaha, Nebraska, said the daily average number of trades on which it collects commissions was 254,000 in January, including a record 326,000 on Jan. 20. The company said January daily volume was about 40 percent higher than the record 182,000 in September 2003. Average daily volume was 175,000 in the fourth quarter, it said. Like rivals Charles Schwab Corp. (NYSE:SCH - News) and E-Trade Financial Corp. (NYSE:ET - News), Ameritrade has benefited from increased trading activity among individual investors eager to capture potential stock market gains. Major U.S. stock indexes in 2003 posted their first double-digit percentage gains since 1999. Ameritrade said it opened 45,000 new accounts and added a net 37,000 accounts in January, giving it 3,202,000 accounts. The company forecast per-share profit of 13 cents to 19 cents in its fiscal second quarter, and 53 cents to 79 cents for fiscal year 2004. It previously forecast full-year profit of 49 cents to 79 cents. Analysts polled by Reuters Research, a unit of Reuters Group Plc, on average forecast per-share profit of 17 cents for the second quarter and 72 cents for the year. Ameritrade also said it will each month report average and month-end balances for client margin loans. It said the balance totaled about $3.4 billion on Jan. 30, and averaged about $3 billion in January. Ameritrade shares rose 32 cents to $16 in Friday morning trading on the Nasdaq. They have more than tripled from a year ago, when they closed at $4.99. (Additional reporting by Greg Cresci)