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Technology Stocks : E*TRADE IPO ALERT THREAD -- Ignore unavailable to you. Want to Upgrade?

To: Bob Duncan who wrote (73)	4/3/1999 6:55:00 PM
From: star56	Read Replies (2) \| Respond to of 15145

I've been reading this thread today, and I must say I am surprised to hear some say the ETrade IPO system should be a level playing field. I totally disagree! I do not think ETrade should give anyone preference based on the amount they have in their account, as other online brokers do, but I do believe they should give preference to traders who trade the most - Platinum traders or whatever. A lottery system based on credits per trade sound like a good idea. Anything but the way ETrade is doing it now. ETrade should also fully disclose the amount of shares they are offering, and exactly at what time the available funds must be in your account. Forget the notion that the funds must be there the morning or evening of the pricing. It isn't true! After the PCLN IPO and many calls to ETrade, I don't have a clue and neither do the customer service reps about what the time is. ETrade has got to play fair ball. They are enticing traders into their Platinum program with the idea that these traders will receive preference. An occasional 5 minute alert is a joke. They should give 24 hours. If Platinum traders are then stupid enough to let the threads know about the alert, then ETrade ought to search the threads and cut these traders off from any future IPO's. The present alert system is ridiculous. The only reason to even trade up to the Platinum is for the IPO's. You can get Level II at a far cheaper rate at many other sites, and we all know that other online brokers like AmeriTrade are far cheaper per trade than ETrade. I'm really hoping IMO that sooner or later a group of traders will take legal action against ETrade for their misleading advertising. All they want are thousands and thousands of traders. They don't give a rip about those traders that are paying them the most money. It's preposterous to think that new ETrade customers with one trade may be getting IPO shares. Well that's the way I see it. Maybe things will change, but I don't see it happening soon. A totally frustrated, and ready to move on, ETrader.