E-Trade

these boys are in serious crap:


"As of Sept. 30, the company's mortgage portfolio, including home loans and home-equity lines, was valued at $29.3 billion, and the company owns mortgage-backed securities valued at $12.4 billion. To date, it has announced $197 million in pretax write-downs on its securities portfolio, and it has set aside $237.8 million in loan-loss provisions."

ummm, mark-to-delusional is it?
 
How long are you guys milking this ETFC bounce?

I personally would have gotten out above $5, not risking my profits to quickly evaporate.

I can't bring myself to buy above $5 and just watching her from the sidelines for now. Only thing holding her up is takeover BS but if that fails, see ya back at 3.70.
 
Quote from pumpanddumper:

How long are you guys milking this ETFC bounce?

I personally would have gotten out above $5, not risking my profits to quickly evaporate.

I can't bring myself to buy above $5 and just watching her from the sidelines for now. Only thing holding her up is takeover BS but if that fails, see ya back at 3.70.
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Why do you play this stock? Dozens of people have suggested to stopped gambling after you asked for advice. Now you're back at the roulette table.
 
Quote from makloda:

Why do you play this stock? Dozens of people have suggested to stopped gambling after you asked for advice. Now you're back at the roulette table.
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I'm not playing the stock. I'm sticking to the index's mostly for now.
 
Quote from pumpanddumper:

How long are you guys milking this ETFC bounce?

I personally would have gotten out above $5, not risking my profits to quickly evaporate.

I can't bring myself to buy above $5 and just watching her from the sidelines for now. Only thing holding her up is takeover BS but if that fails, see ya back at 3.70.
More...


I sold today at $4.95.

Will buy it back under $3.75.
 
Quote from JDO_Trader:

these boys are in serious crap:


"As of Sept. 30, the company's mortgage portfolio, including home loans and home-equity lines, was valued at $29.3 billion, and the company owns mortgage-backed securities valued at $12.4 billion. To date, it has announced $197 million in pretax write-downs on its securities portfolio, and it has set aside $237.8 million in loan-loss provisions."

ummm, mark-to-delusional is it?
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If you look at their last quarterly report, there is almost NO subprime holdings. I think 99% of their mortgages are for people with credit ratings at 720+, and getting the best interest rate (if you pay 1/8% more than the best current rate at the time of financing, that is "sub-prime").

Their writeoffs are not from mortgages, but home equity (a majority) and CDO devaluation.

I will be surprised if there is a buyout or bankruptcy. The core company (trading fees) still generates $480m/year. Once the fear ends and buyout talks stop, this will stabilize at $7 in January or February.
 
Quote from daringly:

The core company (trading fees) still generates $480m/year. Once the fear ends and buyout talks stop, this will stabilize at $7 in January or February. [/B]
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For how long? Does the tape look like it will support retail trading for very long? How many happy feet danced out the door. I saw an email to an old customer they treated like crap offering $5 trades.

Let's see arrogant. Being investigated for front running, stock de vasted, and rumors galore. I don't thing that's a very good platform to grow with. I'd just put an add in a the papaer. Acat an Etrade account, get 500 free trades. Then, of course, you short the shit out of the common when you see the transfers happening.:D
 
Quote from kinggyppo:

The greed of all these companies is mind boggling. Nothing like issuing a bunch of sub prime paper at the top of a multi year real estate cycle. Don't worry Griff or Warren Jr as I like to call him is ready to give you $.05 on the dollar, which is probably too generous. When your grandma is trying to sell real estate its time to bail.:p
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Though E*Trade reportedly talked with rivals about being acquired, Chicago-based Citadel Investment Group dared to tread where others wouldn't go, buying up E*Trade's most troubled assets for 27 cents on the dollar. Citadel will inject $2.5 billion in cash onto E*Trade's balance sheet, including the purchase of $3 billion in toxic, asset-backed securities for just $800 million.

Ok I was a little low, .27 cents it is.
 
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