E TRADE Financial Corp (ETFC)

[suzyHomemaker]

Arnie, what am I going to do with you? LOL!

Well, the good news is that in the past, you would have never lost money buying at $2.70 as it always EVENTUALLY returns to $3.

The bad news is you may have to wait a while. Hopefully you will do OK.

If they don't extend the short selling ban on financials today, that should help the market start to find a short term bottom.

Some day probably in the next week we should see a meaningful bear market rally. Options expiration is next Friday. The question is how much lower will it go first. That rally will likely last 2-3 days. I personally would use any such rally to rescue some funds if possible. We could be looking at DOW 8500 sometime in the next month. This could very well be a horrible earnings season and it starts next week in earnest.

What I would love to see today or tomorrow is a day when the DOW is down 1000 points. A real flush. I will jump in with both feet if that happens.

Play safe guys!