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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: jerry sullivan who wrote (7741)	9/24/1998 4:14:00 PM
From: Les H	Read Replies (1) \| Respond to of 34811

Merrill: Online trading is bad for you Compiled by CBS MarketWatch Last Update: 8:34 AM ET Sep 23, 1998 NEW YORK (CBS.MW) -- A top executive at Merrill Lynch (MER) is leading the firm's campaign against online stock trading, The Wall Street Journal reported Wednesday. Vice Chairman John "Launny" Steffens has said "do-it-yourself" trading is a "serious threat to Americans' financial lives" and has compared frequent trades by small investors to gambling. But critics say Merrill's grousing simply reflects the company's fear that low-cost Internet trading will destroy its full-service business. Merrill has refused to join the online discount bandwagon, unlike many of its rivals, like Morgan Stanley Dean Witter (MWD), Fleet Financial (FLT) and Charles Schwab (SCH). (The Wall Street Journal) >>>I guess program trading is okay for Merrill. The actual letter is at: merrilllynch.com