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To: Dell-icious who wrote (207)	8/11/1998 2:30:00 AM
From: Gerald Walls	Read Replies (1) \| Respond to of 316

But I am not sure if E*Trade has any anti-flipping policy for future allocation of IPOs, and I don't want to get left out in the future. Does anyone have any more information? The one time I had asked a customer service rep, he said "No", but I wouldn't rely on that. Thirty days. They won't interfere with a sale but they may exclude you from future IPOs. The rep may have been saying that you weren't locked in for 30 days.

To: Dell-icious who wrote (207)	8/11/1998 6:47:00 AM
From: Yogi	Respond to of 316

From what I know, E*Trade do have a 30 day anti flipping policy. -Yogi

To: Dell-icious who wrote (207)	8/11/1998 8:40:00 AM
From: Don Pueblo	Respond to of 316

"ANTI-FLIPPING POLICY" It is against the law for any firm to penalize someone for selling stock, any time, any place. Anyone can sell whatever they own of any stock at any time. Maximum commission allowed by law on a NASDAQ trade is 5% in and 5% out. Some firms have policies that "imply" to the uninformed client that he or she may be "penalized", but the truth is this: You pay zero commission for an IPO on the way in. You pay a MAXIMUM of 5% on the way out. You can sell an IPO (or anything else you own) at any time you want. If your broker refuses your order to sell any security, he is breaking the law. Some firms will, in fact, pass over their clients that sold IPOs early in the past, but in the case of a very hot IPO, you can bet money that lots of customers will sell immediately. I know I will; a double in one day is good enough for me, thanks. Note: I have mentioned no specific firm here. I myself would not do business with a firm that mislead its customers in the area of IPOs or anything else.