E TRADE Financial Corp (ETFC)

[suzyHomemaker]

The plan for today.

I'm sitting out all day except for the one small lot of shares I have left, which I'll hold at this point.

I'll be watching after the close for the quarterly results. If they miss, or warn, I'll be watching for an entry but there won't be any rush IMO.

Last quarter when ETrade missed it sold off 30% in 3 days from $4 to $2.75 and then bounced to $3. But that was after a BIG runup.

This quarter, no runup, and in fact, it is seeing selling pressure headed into earnings.

Will this be another quarter where things are bad but not as bad as some expected? I think the issues are the Fannie/Freddie write-offs and of course the mortgage side. I assume the brokerage side is kicking butt.

One bright spot on the horizon is that if ETrade misses and/or warns and the stock price gets hit hard, it makes a buyout much more likely, again IMO.

Take care guys and have a great day!