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Strategies & Market Trends : Roth IRA ideas -- Ignore unavailable to you. Want to Upgrade?

To: vegetarian who wrote (97)	4/8/1998 10:00:00 PM
From: Jtuck	Read Replies (1) \| Respond to of 388

Try Dreyfus, www.tradepbs.com. I just switched to a self-directed Roth Ira, trades are $15.00 and options are the cheapest around, min $15.00 or $1.75/contract, 10 contracts is $17.50. Best site for research, during the day only with an account. Best option pricing charts around. Paper work was slow, but I did it in Jan/Feb when they and everybody else were getting started, so please discount. I had the same thoughts about other firms going south in a bad market, Dreyfus is name brand. I have a schwab account but could not stomach the thought of paying the freight. Do my "trading" with Datek.

To: vegetarian who wrote (97)	4/18/1998 3:31:00 PM
From: Michael G	Read Replies (1) \| Respond to of 388

M. I appreciate your insight. While that is certainly a valid concern, I prefer to look at the positive side, and hope that there is no 'serious' market downturn. I don't think a correction, even 10%, will hurt these companies. Besides, look at it this way, they are just clearing houses. As far as I know, they don't do stock deals, like IPO's or be a market maker, etc... They aren't going to lose their shirt in bear market. Plus, if things turn bad, what are people going to do with their stocks? Sell them, right? That means more commissions (which they take out before they cut you a check), etc.... Also, I dont' keep much cash in my account. It's all in securities, so if they do go under, I believe my securities are safe. Is that correct? I may lose any cash in the account, but that's minimal. I noticed that you frequent the 'Short Picks' site, so I can only assume that you play that game. If that assumption is correct, it doesn't surprise me that you are worried about an eventual demise. If you are a short, I hope you had shorted Cendant (CD) last week! Take care, Michael