R59: ETFC:
I hope you are planning on selling soon. Nothing wrong with playing a bounce, but I will be surprised if we don't see sub $3.50 again on this stock - and probably within days or weeks, but eventually IMO. The technical and psychological damage are beyond extreme.
As to the insurance, that would be irrelevant to me. I would be out of it so fast it would make your head spin. True that they will probably offer all kinds of incentives to STAY, but I would be able to get those same incentives from someone else to COME. If Etrade gives up all their income to keep their customers, it is just going to murder earnings even worse. They are truly between a rock and a hard place. Furthermore, you can bet their competitors smell blood in the water and will going after their accounts aggressively.
I can't imagine why anyone would want all the unknowns hanging over them. Insurance or not, you could have a lot of logisitical problems if this thing goes under. Who needs it?
Len
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