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Pastimes : ETRADE Sucks! -- Ignore unavailable to you. Want to Upgrade?

To: Jon K. who wrote (1417)	2/4/1999 3:17:00 AM
From: scanshift	Respond to of 3262

Jon I am looking to cover shorts tomorrow morning, although the negative impact on EGRP from all this B.S. is going to hurt them compared to the competition. The question is that if you did not get short in the 60's, is it too late to get short in the low 50's? Based on the very bullish stock action of the competition and the positive spin EGRP will make to it's institutional players, it may be harder than one thinks to get EGRP to trade down to the 40'? It may just grind around in the 50's? As far as MBTrading, they are a branch of Terra Nova. I know alot about Terra Nova, because I helped found the company. You want to distance yourself as far from them as you can. You should start with my post on the MB Trading thread, #2059 and work your way forward. I hear great things about www.cybercorp.com; however I am not a customer there. Supposedly they have a backup phone and web order system that if they ever crash, all open orders can be dealt with in less than 10 minutes. Fane a.k.a SCANSHIFT

To: Jon K. who wrote (1417)	2/7/1999 3:16:00 PM
From: scanshift	Read Replies (2) \| Respond to of 3262

ETrade selling order flow/loosing market share I think there exists the potential for ETrade to loose significant market share of the online trading business when it becomes widely known that ETrade sells their order flow to the Knight/Trimark Group Inc, headed by Ken Pasternak. Knight/ Trimark is the largest market maker on the NASDAQ. ETrade sells their order flow for 2 reasons: First, they get paid for the order flow by Knight/Trimark, and second, they have an interest to do so because they are a substantial shareholder in the Knight/Trimark Group. There are other online brokers who also sell order flow like ETrade, but there are numerous online brokers who do not!! How does this effect the execution time of an order that an ETrade customer may have working? Well, there may be a better opportunity to get your order filled on an alternative electronic exchange (Instinet, Island, etc.), but because of the relationship with Knight/Trimark, where do you think your order is going to end up?? When Knight/Trimark goes to its manual execution instead of its auto-execute system, the delays can be substantial. Bloomberg did a recent piece on this manual execution delay, the first part I pasted below: Market Makers' Manual Executions Spark Online Delays Bloomerg Online Jan/14,1999 Jersey City, New Jersey, Jan. 14 (Bloomberg) -- Large market makers are causing delays for investors trying to make online trades because they periodically remove certain Internet stocks from automatic execution systems, industry executives said. Knight/Trimark Group Inc., the biggest market maker on the Nasdaq Stock Market, yesterday removed about a dozen Internet stocks, including Yahoo Inc. and Amazon.com Inc., from its computerized execution system several times for about 15 minutes, said Ken Pasternak, president and chief executive. Trades were executed manually, taking three to four minutes instead of a few seconds.***************