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ETFC, e*trade

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Captain
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Joined: Oct, 2006
Posts: 7215
Posted: #1
guys, just in search of some opinions re: ETFC
 
I have a ton of this stock, the majority of which is in my IRA
 
however, I also bought 5000 shares at .75 that I could sell at a solid little profit in my regular brokerage account.
 
The position in my IRA, 8250 shares, has been dollar cost averaged down and my cost basis is now 2.41.  I have a long term perspective and think that ETFC will make it and be fine long term, 5-10 years so I'm thinking of keeping that position.  The last purchase I made was for 5000 at 1.01 in this IRA.
 
would you guys sell the brokerage position and keep the IRA position or what?  What do you foresee for ETFC.  I obviously do my own research and feel I am a very solid investor BUT value your opinions as I respect a lot of you in this forum.
 
thanks in advance
 
Legend
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Joined: Dec, 2001
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Posted: #2
 
I think it's close to "salvage value" right now. their trading operation may be worth more than 1.33. I would hold and see what happens.
 
Rookie
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Joined: Jan, 2007
Posts: 689
Posted: #3
Question is:  Can you sell and invest in something else to make your money back faster than sitting in ETFC?  I do like Etrade, but i dont see it making as much as some companys in this bull market.  I think youd be better off trying to daytrade citi, drys, or lvs.  I also like LVLT to go to $1.50 sometime before they report 1st quarter earnings on April 28th. That would be a 50% gain.
 
Captain
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Posted: #4
thanks for ideas. im keeping ETFC for the time being in my IRA but gonna sell the next jump it takes in my brokerage account.
i think the market, as a whole, is gonna drop back down to around 6800-7000 level so ill wait to get back in then most likely
 
Legend
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Posted: #5
monday april 13th ETFC is looking like it's breaking out. opened 1.38, at the high end of it's recent trading range, and started a steady upmove throughout the session. current 1.69 +0.34 on 21 million+ shares which is 20 cents higher on it's most recent spike move march 19th.
 
with the financial acting better overall, that E-trade baby could be ready for a run.
 
IF you still have your stock, pederson16, I would hold, esp it it's in an IRA.
 
Legend
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Posted: #6
hit 1.80 current 1.78 with two hours to go and volume accelerating. IF we don't get a late  "DTD" could be HUGE today with 13+% short
 
Legend
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Posted: #7
one hour to go. holding around 1.74-1.75. "day trader dump" or "scare da bear" last hour?
 
Legend
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Posted: #8
interesting finish. was a little of both "scare da bear" AND "day trader dump". ran to 1.83, backed off to 1.75 then back up to 1.80 before a wild last 10 mins of dump to 1.70 back to 1.78 before settling @ 1.75 + 0.45 on the day.
 
will see what happens tomarrow BUT I would bet higher after maybe some early selling.
 
Legend
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Posted: #9
will see what happens tomarrow BUT I would bet higher after maybe some early selling.
 
perfect  picked up 10k @ 1.78 on the morning first 10 min dip and it's closing almost on it's high of 2.08.
 
usually I would day trade a move like this BUT I think it's headed higher esp because it was one of the better acting financials on tuesday and the volume is coming in.
 
Legend
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Posted: #10
WOW WE!!!
 
the E-trade Baby has been the Energizer Bunny ALL WEEK!!! hit a high of 2.90 just after 2:00 friday. usual flat to down slightly opening friday am and farted around the first hour THEN started a pretty steady up move that turned into what looked like a 'Holy SHIT!!! COVER!!!" short squeeze about 1:30. late "I've got MINE" sell off took it to a 2.58 + 0.30 close BUT back up to 2.69 after hours.
 
usually I'm a trader BUT I'm going to continue to hold here and just watch.
 
Captain
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Posted: #11
Quote Originally Posted by LeRinkRat:

WOW WE!!!
 
the E-trade Baby has been the Energizer Bunny ALL WEEK!!! hit a high of 2.90 just after 2:00 friday. usual flat to down slightly opening friday am and farted around the first hour THEN started a pretty steady up move that turned into what looked like a 'Holy SHIT!!! COVER!!!" short squeeze about 1:30. late "I've got MINE" sell off took it to a 2.58 + 0.30 close BUT back up to 2.69 after hours.
 
usually I'm a trader BUT I'm going to continue to hold here and just watch.

tough day today so far, and i think the next week or two will be tough but im just continuing to hold.... i've convinced myself its a great stock to hold for long run. I might even dollar down here if it gets to under $2 range again

 
Legend
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Posted: #12
ya, was kind of a short term blow off friday hitting 2.90. the financials getting pounded today BUT ETFC reall not down that much compared to C or BAC and the other financial "penny plays" 
 
2.30 - 0.28 @ 12:15 edt with an early interday low of 2.12  that's really NOTHING in relation to it's run last week. will see how it closes.
 
Legend
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Posted: #13
been "Mr Toad's Wild Ride" monday and tuesday. big percentage interday swings. stock has become the NASDAQ day traders "blue plate special"
 
Legend
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Posted: #14
"NOW the turkeys are running to the OTHER end of the yard"
 
stock got bopped fron 2.59 to 2.42 in a half hour. current 2.47, will see how it closes with just under one kour to go.
 
Legend
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Posted: #15
closed 2.31 - 0.12 (2.35 after hours). looked more like a DTD than a "OMG-GMO" (oh my God get me out). see what happens tomarrow BUT I would be a buyer IF it gets hit early again. that's printed money for day traders 6 of the last 8 days
 
Captain
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Posted: #16
sold at 2.60 today.... got a bad feeling about these stress tests tomorrow....... bought FAZ today, betting financials get killed and then hopefully bottom feed again.
 
Legend
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Posted: #17
sold at 2.60 today....
 
I think that's a smart move. stock is acting really toppy. MIGHT niss a move BUT the prudent thing to do right now is NOT chase
 
Legend
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Posted: #18
congrats on the nice percentage score, btw     
 
Captain
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Posted: #19
Quote Originally Posted by LeRinkRat:

congrats on the nice percentage score, btw     

 thanks bud.... i appreciate the insight and congratulations.

hoping to get back in under 2$

I just bought a bunch of AUY with the proceeds.  hoping banks drop bringing market down and the flight to gold resumes!!

 
Legend
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Posted: #20
check the gamers. LVS and BYD just FLYING friday. both up over a buck and BYD hit $8+. even doggy MGM up a half.
 
wouldn't chase BUT I would be a buyer on any dips as long as they don't break the bottom of the uptrend channel.
 
Captain
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Posted: #21
I had a sell order in today at 2.60 but didn't get filled. I'm gettin a little nervous about this one and was just hopin to cash out for a 20% plus gain in 3 days.
 
I guess I get to see what Monday brings.
 
Captain
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Posted: #22
Sold ETFC today for 2.55 for a 21% gain in about a wk. Just seems like it has lost its steam but I'd be curious to know Rink Rat's thoughts.
 
Captain
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Posted: #23
ETFC trading at 1.90 after hours after dismal earnings rpt. I didn't even realize earnings were being reported today after hours. A little luck never hurt.
 
Legend
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Posted: #24
I didn't even realize earnings were being reported today after hours.
 
I thought I had mentioned that somewhere in the thread BUT must have been another one.  the way the stock was acting during the regular session I though they were going to be OK. OOPS!!!
 
will see what happens tomarrow BUT IF it gets TOO crazy, I would be a buyer. 5:25 edt right now and it's 1.90/1.91 in the after market.
 
 
Captain
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Joined: Apr, 2002
Posts: 6524
Posted: #25
Trading around 1.70 this a.m. Time to get back in?
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