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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Bikergirl who wrote (2996)	6/4/1998 1:36:00 AM
From: Spytrdr	Respond to of 13953

Wednesday June 3, 9:41 pm Eastern Time Electronic brokers follow big U.S. firms overseas By Jack Reerink NEW YORK, June 3 (Reuters) - Electronic brokers are starting to follow big U.S. securities firms abroad, with ETrade Group Inc. (EGRP - news) announcing on Wednesday it is entering the Japanese market. ETrade, of Palo Alto, Calif., said it would set up a $19.5 million joint venture with Japan's Softbank Corp. (9984.T) later this month that will start providing Internet-based trading to Japanese retail investors next year. Charles Schwab Corp. (SCH - news) is already offering cybertrading in Britain and Hong Kong. Other electronic brokers, like Donaldson Lufkin & Jenrette's (DLJ - news ) DLJdirect unit and AmeriTrade Holding Corp. (AMTD - news), also are eyeing overseas markets. ''We are going to be there long term, no question about it,'' said DLJdirect Chief Executive Blake Darcy. ''But we're going to be careful and not overextend ourselves.'' Electronic brokers face big regulatory hurdles abroad, Darcy said. In addition, many non-U.S. retail investors still rely on brokers for financial advice and are only starting to surf the Web, he added. ''You need investors who are willing to take their financial future in their own hands,'' Darcy said. ''That's not happening yet.'' AmeriTrade President Joseph Konen said his company is evaluating expanding overseas but is in no hurry because there is still room for growth in the United States. ''We believe there's a benefit to gain from linking up (abroad) with a strong foreign partner, but we're not interested in a quick hit,'' Konen said. AmeriTrade is inclined to set up a joint venture instead of licensing its technology to a foreign bank, but has not made a final decision, he added. It is unclear whether ETrade's venture in Japan will permit trading in U.S. stocks only, which is the Schwab model, or will also allow trade in Japanese stocks. ETrade has yet to determine how much it will charge per trade and how it will market the service. Marketing has proven a key issue in the United States, where electronic brokers rely heavily on advertising to attract new accounts. The company said it would start operations as Japan further deregulates its financial markets and liberalizes commission rates next year. Analysts generally liked the move. ''I don't think it's going to add to earnings immediately, but it's a good opportunity to get in when the market is down,'' said analyst Michael Chung of Williams Capital Group. ''The potential is huge.'' Japan's prize -- some $10 trillion now largely languishing in savings accounts that return less than 1 percent a year in interest -- already has whetted the appetites of large U.S. securities firms. Merrill Lynch & Co. Inc. (MER - news) hired 2,000 people recently from failed Japanese broker Yamaichi Securities so it could set up a retail network in Japan. Travelers Group Inc. (TRV - news) said Monday it would take a 25-percent stake in Japanese broker Nikko Securities Co. Ltd. (8603.T). ''ETrade's growth in the U.S. has slowed ... because the field has gotten considerably more crowded,'' said ABN AMRO analyst Scott Appleby. ''I'll give (ETrade) credit, though, for going global, which will eventually pay off.'' ------------------------------------------------------------------------ More Quotes and News: * AmeriTrade Holding Corp (Nasdaq:AMTD - news) * Charles Schwab Corp (NYSE:SCH - news) * Donaldson Lufkin & Jenrette Inc (NYSE:DLJ - news) * E Trade Group Inc (Nasdaq:EGRP - news) * Merrill Lynch & Co Inc (NYSE:MER - news) * Travelers Group Inc (NYSE:TRV - news)

To: Bikergirl who wrote (2996)	6/4/1998 6:58:00 PM
From: Spytrdr	Read Replies (1) \| Respond to of 13953

well, said and done... i made a killing in EGRP today EGRP is an ideal stock for short-term trading: high volatility within a 30% up and down trading range, nice predictable price movement, it's always safe to buy under $ 21/22

To: Bikergirl who wrote (2996)	6/5/1998 12:26:00 AM
From: Batgirl	Read Replies (1) \| Respond to of 13953

Bikergirl. HAlf the business people I knew in Japan did not have a computer 2 years ago but they all have boughtlaptops in the last year for personal and/or business use. E-mail and internet being as motivating a factor as anywhere for business and giving them an opportunity to improve their English etc. There is one university , I forget what it was called where all students are provided with a laptop when they enroll. Dont knock Australia either;. Im close to that country as well and everyone wants to make money on the stock market. I noticed on- line trading for the first time when I was there about 3 months ago through Macquarie Bank which was just getting started and very few smaller firms .IT is very new and there was significant interest in it despite the fact that their online services were extremely limited and expensive compared to what you are used to and take for granted in AMerica. ie.I dont think they could get charts from the web and they had to buy expensive charting software programs to do proper analysis . E-trade if it offers what it offers here will make trading more accessible and less daunting to the average person like it does in America and I expect it to take off in a very big way once they start advertising. It appears to me(correct me if Im wrong) that E-trade is getting into these countries before any of the other US.Discount brokerage houses like Datek or Ameritrade or Waterhouse etc. and thats a very good thing. IT might take a year or much longer for the others to catch up .Target price for E-trade is $40 and am looking forward to the next 6 months with interest.