call this lateral movement...neither up or down (at the end of the day) but tremendous swings during the day; tech stocks of all kinds taking terribly poundings as more and more tech companies forecast lower earnings for the third quarter of 2000. The US employment report is due out today, analysts always look anxiously at this report for signs of not only consumer and business confidence, business hiring more, or letting people go, also to see what consumers are actually gaining jobs or less of them are employed. Since having a job has a direct influence on how mush one spends, when you spend....

this is a sign always watched as to whether the economy is slowing.... A slowdown means less money circulating in the system as families retrench, planning for contingencies.

Our mock portfolio tech stocks all have taken severe hits from shaky news, while the older line economy companies trundle on with no surprises, but steady growth.

On the market side, Online day trading has slipped to a new low. Firms that provide these services to those who opted to try their hand at this new way of earning income are scrambling not only to keep their customers, but desperately trying to find new ones. In truth stranger than fiction, two online trading firms are suing each other over pirating of customers; Momentum Securities is suing Andover Brokerage for raiding its office and stealing at least 24 customers.

Meanwhile, Charles Schwab who started with independent financial planners and has been diversified form the very beginning is fast challenging Merrill Lynch, one of the biggest financial institutions in the US. Schwab had higher net inflows of cash in September in excess of ......over Merrill Lynch.

E*trade, Ameritrade, and so on have seen their stock slip dramatically in the last few months. A new poll of online investors conducted by the street.com asked this question: What have you done with your investments in the last month? The response was: 23 percent have less invested in the market now than six months ago; 38 percent have more invested in the market now than six months ago; 37 percent have less invested in the market now because they lost ALL OF their investments during the last six months.

The Online trading firms, particularly Ameritrade who spent so much in advertising trumpeting DO-IT-YOURSELF OR WHO NEEDS A FINANCIAL ADVISOR ANYWAY has suddenly discovered that when the going gets tough, the tough are seeking the professional advice! Which all comes back to the mantra that we have heard and seen a thousand times, it is easy to make money in a bull market and everyone is an investment guru. It is very tough to make money in bad markets, working with an investment advisor and planning long-term does not hurt as much, and in fact, can be an investment opportunity. Try it. Working with a financial planner/advisor is more important than ever for most of you involved in your busy lives...what a plug that is for Financial Planning Association.

Have a good weekend everyone.

Under no circumstances does the information in this column represent a recommendation to buy or sell stocks or any other investments. Readers needing specific assistance should seek professional advice from their financial advisor.

Martha Myron CPA is a Bermudian, a Comprehensive Financial Planner, holds NASD Series 7 licence and is a US tax practitioner. She is Programming Chair for the Financial Planning Association/Bermuda. Questions regarding this article may be sent to at Email: marthamyron(at)northrock.bm