E TRADE Financial Corp (ETFC)

[BIllion_Dollar_Jock]

Etrade is slowly treading towards bankruptcy. It seems like their Banking division is in big trouble and might face losses in excess of 1 Billion Dollars by year end! Converting that to $$, it translates to a pps value $1.275 per share or a cap of around $500 Million.

There have already confirmed news of a significant number of customer pulled out of their banking account and a stipulation of an even bigger number of online trading customers pulling out of their online brokerage accounts in the next 2 weeks and we are talking about 'elite' customers with accounts in excess of $100K

IMO, the pps will rise tomorrow in the morning session when bargain hunters buy this stock but will close in the red...