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Well, it didn't open like I thought.
Took $3.52. Oh well. You'll never go broke taking profits.
Now I'll wait and see what it does today.
Catch ya'll later.
Article mentioning ETrade:
http://biz.yahoo.com/ap/080415/earns_charles_schwab.html?.v=15
Despite market turbulence, Schwab opened 246,000 brokerage accounts in the first quarter -- the most in nearly seven years.
"Charles Schwab continues to fire on all cylinders," said industry analyst Robert Ellis of Celent. Ellis believes Schwab is luring customers away from some of its rivals, particularly E-Trade Financial Corp., which has been staggered under its exposure to toxic mortgage markets.
This is OT buy a FYI
The guy I follow had the following to say last night about overall market direction from here. He has been very good over the last couple of months. Please remember that it's worth what you paid for it :)
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Today Q's tested my MT support at $43.70, I don't know will it test it again in the ST. But, here is my analysis:
1.) Last move from $42.50 area (bottom) to $46.20 area (tested twice), upside target reached.
2.) Pull back to test $43.70 support today, successful.
3.) Next move on the upside will be back to $46.20 again, and then trying to go beyond, if successful, next target is $48.00 and I think this is a very possible move, more than 70% chance.
4.) Then no matter how many times we test $48.00 on the upside, it will pull back again. That means in the MT, we get "higher high" and "higher lows".
5.) LT we will it will get to old high at around $53's, just don't know when that will come? Needs Fed's help on starting raising rate.
Enough bearishness already. Inflation period is accompany with higher stock prices. Lowering rate will keep stock price at lower level. When Fed. starting raising interest rates, stock's bull market will start about a month or two after its initial rate hike. Inflation is basically stock market friendly in the long run. I will use every pull back adding into my long positions as long as it holds around $43.70 area solidly.
I would think the open would be $3.55
What happens after that depends on how scared the shorts are about the Qs being way up and IBM reporting tonight which should also be good news for the market. The options for IBM are pointing to a good #.
Premarket I read Merrill was able to dump some big chunk of their non-performing stuff for 90 cents on the dollar. That's great news for ETrade. But I don't know if it's apples to apples.
I haven't seen any bad news for us today yet.
Once it opens, I'll set a stop and let Mr. Market decide whether I ride things into tomorrow :)
Yup!!!
I waited for both to report and see the reaction and then picked up 10k afterhours at $3.44.
Barring any bad news in the AM we should have a nice up day tomorrow given the oversold condition.
It's already back at $3.50 afterhours so I'm breaking out the cooking sherry!!
Prices Plunging? Buy A Put!
http://www.investopedia.com/articles/optioninvestor/120401.asp
The chart looks to be bottoming!!
http://www.stockta.com/cgi-bin/analysis.pl?symb=ETFC&num1=3&cobrand=&mode=stock
The fast stochastic is 13 so that's oversold. Coincidentially, the slow stochastic should be in the oversold range around Friday morning/late Thursday.
Maybe we'll have the mother of all short squeezes if we get a great report!!
I'll go way out on a limb and say
green right at the open and then red by 10:15 :)
There are a couple big financials reporting tonight + Intel so put your seatbelts on. If Intel misses it's game over for the nasdaq. The whisper # for them is +3 cents.
It depends on the new CEO, right?
He was quoted in some article a while back saying he wasn't going to sell the company. But if this is a bad quarter and the stock gets [more] hammered, he may not have a choice.
If the company shows Thursday that it is turning around and things are better, any buyout would be at a nice premium. But if the results are bad then the inverse is pretty much true. It's hard to negotiate a better price on a deal when you're not in a position of strength, ala bear stearns.
What I would like to see is real solid #s for the quarter and a healthy cash position. That would shut up most of the buzzards in the press!!
Well, someone thinks they know something.
The stock has dropped over 85 cents in 3 trading days on no visible bad news. It's down over 8% today when the market is down only a little.
It could be that everything is fine and they will have a stellar report on Thursday after the close. But I want to see that at this point.
On the brighter side of things, my solar stock is up 7% today. LOL!!
The problem is
there are alot of other financials reporting this week before ETrade. I also read somewhere this weekend speculation about ETrade doing a placement to raise funds. Wachovia did that this morning and not on great terms.
It looks like alot of money is being taken off the table. At this point, I'm not buying any more until after the results are in.
Cool beans!!
I love pictures - LOL!!
Senate Approves New Legislation Supporting Wind and Solar Companies
Last update: 4/14/2008 8:00:00 AM
WASHINGTON, April 14, 2008 /PRNewswire via COMTEX/ -- The U.S. Senate has approved legislation renewing the incentives which encourage construction of wind and solar energy projects. The Clean Energy Tax Stimulus Act of 2008 passed the Senate with overwhelming bi-partisan support in an 88 to 8 vote.
Wind and solar industry associations lobbied for months to renew the tax credits which helped to spur record growth in both industries over the past five years. Gregory Wetstone of the American Wind Energy Association stated: "With 116,000 jobs and $19 billion in clean energy investment at risk from the looming expiration of renewable energy tax credits, the Senate has recognized the urgency of taking timely action to extend these incentives."
Lazard analyst Sanjay Shrestha placed a new buy rating on solar cell manufacturer JA Solar (JASO). Bank of America issued a buy rating for First Solar (FSLR), a world leader in solar semiconductor technology.
CNBC analyst Francis Gaskins put a new higher $4.00 target on wind company NACEL Energy (NCEN). NACEL Energy develops utility class wind power and just announced two new Texas projects -- Blue Creek, a 20-megawatt facility north of Amarillo, TX and Channing Flats, a 20-megawatt project in Moore County, TX.
A Before the Bell(TM) renewable energy update.
SOURCE Before the Bell
Copyright (C) 2008 PR Newswire. All rights reserved
$3.60 pre-market
Wachovia missed their earnings pretty bad this morning.
Big week ahead!!
I don't know.
GE missed earnings this morning, and badly, because of their financial arm. That's not going to help. Alot of the financials, including ETrade, report next week. GE has set the tone, so now ETrade has to come thru with a good report.
I assume they will but you just never know anymore.
Nope. Down 3% already premarket. $3.81
Volume already is 100,000 which is very high for premarket.
I'm not sure exactly what happened Thursday but that was one fugly candle yesterday. This doesn't bode well for next week IMO.
GE really missed earnings this morning and today should be another one of those days where most everything is red.
I don't use the M word.
I've been there and done that and I'll never do it again.
It's really breaking down now. $3.92
**SIGH**
16 million shares at noon is beefy volume.
I don't know, but it sure seems like something is up.
We'll know soon enough, I guess.
This bites!!
I feel like I just got jumped by a bear in a cactus patch.
I'm not liking this one little bit!!!
It sure helps explain the run we were on.
I wish I had a crystal ball that could look to Thursday night. I'd be really happy if the ETrade shorts woke up on Friday with a tummy ache. :)
We're down another penny pre-market, arnie.
That's two whole pennies now!!
I keep hoping we'll make a little run into earnings next week.
It's interesting looking at that chart.
This time last year there were only 10 million shares short.
In november it really started to spike. I guess that's about when the wheels came off.
Short interest down by 14 million:
3/31/2008 90,336,136 27,256,177 3.314336
3/14/2008 104,396,736 35,919,364 2.906419
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?mode=&kind=shortint&timeframe=&intraday=&charttype=&splits=&earnings=&movingaverage=&lowerstudy=&comparison=&index=&symbol=ETFC&symbol=&FormType=&mkttype=&pathname=&page=short&selected=ETFC
Well, at least we're green.
That's something!!
GO!! GO!! GO!! GO!!
LOL!!
Oh great, one more thing to learn - LOL!!
thanks.
It has certainly been on a roll.
If the market holds up, it would be nice to have this one take off.
Those Fed minutes released at 2 hurt!!
Everything's back at the low of the day.
We need one of those 400 point DOW up days again!! LOL!!
Grim economic outlook trumps price worries at March FOMC
By Greg Robb
Last update: 2:00 p.m. EDT April 8, 2008Print RSS Disable Live Quotes
WASHINGTON (MarketWatch) - Behind closed doors last month, top Federal Reserve officials confronted new projections of a sharp and severe slowdown, leading them to brush aside worries about rising prices and cut rates aggressively, according to minutes of the meeting released Tuesday. The majority of FOMC members said the substantial easing in March was justified given the deteriorating economic outlook, the minutes said. No one seemed in any way comfortable with recent rising prices. But the majority said it still viewed a moderation in price increases later in the year as likely. There had been no real wage gains, they noted. The decision provoked a sharp dissent from two of the Fed's most hawkish regional bank presidents. Philadelphia Fed president Charles Plosser and Dallas Fed chief Richard Fisher both warned that the public was beginning to think that rising prices were here to stay and this sentiment would be strengthened with another aggressive rate cut. Community
It's going to be an interesting day.
Futures are in the tank. Pre-market is holding well.
This will be another test for us.
Earnings are next Thursday after the close.
Ameritrade tells me the same thing all the time.
I tried to point out to them that my brokerage account is just like my checking account. I mean, they wouldn't have given me all those books of checks if I couldn't just use them. Financial institutions have absolutely no sense of humor.
Oh, and no, I can't lend you any money. Unless, of course, you'll take a check - LOL!!
We set a new daily high at $4.53 a bit ago.
The market tried to selloff. The QQQQs went down and tested 46.00 but snapped back up. If 46 continues to hold it should head substantially higher from here to as high as 48.00 shorter term. That kind of move in the Q's should put Etrade well into the $5's.
So let's do that then!! LOL!!
Yeah, but the market seems to be selling off.
It would be really nice to hold onto most of these gains.
Let's see how strong she acts today.
We're trading $4.40 pre-market!
It has been as high as $4.43 so far.
Just got back and we're RED???
What the heck is up with that!!
It's a world gone mad...
It's realitively cheap to move the futures.
I don't expect the markets to close up today. But as of right now they haven't called me for my opinion - LOL!! I think we'll see a mildly up open and then the sellers will come in. The close will be important. Clearly, the rate of jobs being lost if accelerating, and that's not good.
But let's see what happens. ETrade has had an awesome week and even when the markets are down, not all stocks go down.
I'm going to be out for most of today so you guys enjoy your weekend and I will catch up with you on Monday!!
I didn't know there was one.
The earnings report isn't until the 17th and the conference call is 5PM that day.
The jobs report blew chunks.
That's the worst jobs report I can remember in years. The revisions were pretty bad.
Could be an interesting day.