Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Nandu who wrote (4638)	2/2/1999 9:40:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 13953

Online Brokers' Trading Volume Up 25-50% in Jan., Analyst Says Anil: Here is an interesting article i just saw at Bloomberg. ================== San Francisco, California, Feb. 2 (Bloomberg) -- Online brokers' customer trading volume in January rose 25 to 50 percent from the record levels of the fourth quarter of 1998, according to a Credit Suisse First Boston report. The securities firm tracks 53 Internet and electronic commerce stocks that are among the most heavily traded by investors using the Web to trade stocks. Volume in those stocks rose 22.4 percent in January, and a ''spot checks with industry sources'' show online brokers saw an even bigger increase in trading volume from the fourth quarter, CSFB analyst Bill Burnham wrote in a research note sent to clients this morning.. ''A lot can happen between now and the end of March, but barring a drastic market slowdown, we'll likely raise'' quarterly earnings estimates for ETrade Group Inc. and Ameritrade Holding Corp. by the end of the February, Burnham said. ''To a certain extent this is already reflected in the stocks, but since this is a retail catalyst-based market, news of these strong volumes may run these stocks even further, as hard as that may seem.'' Shares of ETrade and Ameritrade hit records yesterday, each rising more than 17 percent, as E*Trade completed a 2-for-1 stock split and as Ameritrade neared its own this coming Friday. Customer volume at online brokers rose 34 percent in the fourth quarter from the third as investors snapped up Internet stocks like Yahoo! Inc. and Amazon.com Inc.