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To: pcyhuang who wrote (2150)	5/17/2008 12:21:02 PM
From: Wallace Rivers	Respond to of 4080

Time will tell, but I don't think one can surmise too much from that volume of block trades. This is, after all, a four dollar stock, so a block trade would require a commitment of funds as little as just north of $40,000. If this threshold started in the millions, that would be much more significant IMHO.

To: pcyhuang who wrote (2150)	5/17/2008 10:07:48 PM
From: pcyhuang	Respond to of 4080

Wallace: The significance is not the absolute value of blocks traded but the relative ranking among financial stocks Etrade being the most actively traded in terms of blocks -- showing unusual investors' interests. Cheers,

To: pcyhuang who wrote (2150)	5/18/2008 11:05:40 PM
From: pcyhuang	Respond to of 4080

HSBC Buys E-Trade’s Indian Broking Unit HSBC Holdings has bought IL&FS Invest-smart, the Indian broking business of E-Trade, in one of the first such deals by the UK-based bank in Asia. HSBC will acquire 73.21 per cent of the online broker for Rs10bn ($235m) which it said would strengthen its reach among the country’s rapidly growing retail investor class, who number about 20m. E-Trade has also sold another arm, Retirement Advisors of America, to PHH Investments. It owns 43.85 per cent of IL&FS Invest-smart while its Indian partner, Infrastructure Leasing and Financial Services, owns 29.6 per cent. Under the deal, HSBC will buy out the majority shareholders and then launch a tender offer for another 20 per cent, as required by market regulations. Full Story: ft.com Cheers,