E TRADE Financial Corp (ETFC)

[suzyHomemaker]

I think $1.50 still looks more likely.

But that really depends on the overall market. If we finally get a much needed and very healthy 10-15% correction in the markets then ETFC could go all the way back down to $1.20ish. We've all seen many times how fast it can drop.

The other interesting thing is whether it will make any kind of earnings run this quarter. I'll be watching for that. We have roughly 4 weeks to wait for the quarterly results. Last quarter those that held over earnings got spanked. How many will place those same bets this time?

Tomorrow and Friday are both big news days so I'm playing with almost all cash at this point hoping for the correction.

A number of the government subsidies are soon running out so unless they get extended I think the economic numbers will head south again. The most notable of these is the first time buyer home credit which is like $8K. If that doesn't get extended then I think that will have a major impact on housing and the markets in general.