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

To: John Lacelle who wrote (4656)	2/2/1999 2:19:00 PM
From: Mohan Marette	Respond to of 13953

Online trading jumps in January-Online brokerage stocks will continue soar-FirstBoston. John Here is an interesting article i ran in to. ======================= By Reuters Special to CNET News.com February 2, 1999, 9:05 a.m. PT Frenetic trading in Internet stocks pushed up online trading volumes an estimated 25-50 percent in January, after a 34 percent rise to a record 340,000 trades a day in the fourth quarter, according to analyst Bill Burnham of CS First Boston. "Spot checks with industry sources confirm that online trading volumes are currently running 25-50 percent higher than last quarter's record pace," Burnham said in a research note today. The chief executive of the nation's No. 6 Internet brokerage, Ameritrade Holdings, Joe Ricketts, told Reuters yesterday that his firm's trading volumes grew at the same clip as in the fourth quarter--38 percent. The surge in cyberspace trading volumes comes as overall stock market volumes rose just 6.4 percent in January, but trading in Internet stocks soared 22.4 percent. Investors funneling trades through cyberspace have a penchant for trading shares in companies that do business on the Internet, such as bookseller Amazon.com. If the trend continues, CS First Boston's Burnham expected to raise his estimates on two publicly traded Internet companies--Ameritrade and ETrade Group--by the end of February. The analyst also expected the stocks, which have soared more than 10-fold in the last four months, to keep rising. "Given the high degree of sensitivity that these stocks are showing to incrementally positive news, we expect that news of these strong volumes may run the stocks even further, as hard as that may seem," Burnham said. Ameritrade's stock yesterday closed at 105 and ETrade at 62-7/16. news.com