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11-12-2007, 03:14 PM
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Super Moderator
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Join Date: Jul 2007
Location: Cincinnati, Ohio
Posts: 10,864
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ETFC - E*TRADE Financial Corporation (NASDAQ Stock)
Down over 58% today!  Another subprime play.
ETFC on Google Finance
Chart
Today's Price: $3.56
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11-12-2007, 05:15 PM
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Re: ETFC - E TRADE Financial Corporation
ha put this one on watch this am and could be a nice play at some point b/c it is way low and hoping it goes even lower lol
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11-12-2007, 05:44 PM
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AMEX Stock
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Join Date: Jul 2007
Posts: 396
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Re: ETFC - E TRADE Financial Corporation
I have a problem with what happened here...
E-Trade said its $3 billion portfolio of asset-backed securities includes about $450 million worth of collateralized debt obligations and second-lien securities
Okay, so why the huge drop of 60% in Etrade's share price?
Oh and also, is this the same CITI, that wrote off over 8 billion dollars?
I'd be curious to see how much they banked off the shorting of Etrade.
I think CITI used there "power" to make some money, yes maybe Etrade will be hurting, but for the stock to drop 60%, I highly doubt it.
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11-12-2007, 05:55 PM
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Re: ETFC - E TRADE Financial Corporation
Quote:
Originally Posted by daiello
Okay, so why the huge drop of 60% in Etrade's share price?.
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heard it was a sec investigation that caused price to drop?
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11-12-2007, 05:58 PM
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AMEX Stock
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Join Date: Jul 2007
Posts: 396
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Re: ETFC - E TRADE Financial Corporation
No because CITI analysts dropped its price target and it was changed from a hold to a sell.
I believe this is an attempt to make some of those huge losses back by CITI, but hey what do i know.
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11-12-2007, 07:20 PM
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Re: ETFC - E TRADE Financial Corporation
looks like it may be a combo of things at play here...
E-Trade halved on warning, sell rating
Online broker backs off outlook, citing securities portfolio
http://www.marketwatch.com/news/stor...3F1FE6980AC%7D
have to add that i am not at all unhappy to see that they are having some problems b/c they basically ripped me off and wouldn't make good on it and i am in process of fighting em so good to see some 'karma' kick in lol
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11-12-2007, 07:48 PM
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Sept Poster of the Month
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Join Date: Jul 2007
Location: Sheppard and Enoch Pratt Hospital, Adult Crisis Stabilization Unit, Baltimore, MD
Posts: 1,144
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Re: ETFC - E TRADE Financial Corporation
Quote:
Originally Posted by daiello
No because CITI analysts dropped its price target and it was changed from a hold to a sell.
I believe this is an attempt to make some of those huge losses back by CITI, but hey what do i know.
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That's illegal and very easy to detect as Marta Stewart found out. NASDAQ has a department for that very purpose. MarketWatch takes care of those situations.
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11-12-2007, 07:51 PM
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AMEX Stock
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Join Date: Jul 2007
Posts: 396
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Re: ETFC - E TRADE Financial Corporation
Just because it's illegal doesn't mean it doesn't happen...
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11-12-2007, 09:32 PM
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Sept Poster of the Month
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Join Date: Jul 2007
Location: Sheppard and Enoch Pratt Hospital, Adult Crisis Stabilization Unit, Baltimore, MD
Posts: 1,144
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Re: ETFC - E TRADE Financial Corporation
Quote:
Originally Posted by daiello
Just because it's illegal doesn't mean it doesn't happen...
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It's more like a hedge fund shorting then CITI shorting. A Chinese Wall violation/front running by CITI would have them in a bind. Thats big fines/censorship/oversight. Their top licensed people would get their licenses suspended or they would get permanently barred from the industry. Their Compliance lawyers would get fired. All kinds of bad things can and do happen. All this has a paper trail that is hard to mask.
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11-12-2007, 10:33 PM
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AMEX Stock
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Join Date: Jul 2007
Location: In the South, down in Louisiana
Posts: 559
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Re: ETFC - E TRADE Financial Corporation
Quote:
Originally Posted by Evil-Eye
It's more like a hedge fund shorting then CITI shorting. A Chinese Wall violation/front running by CITI would have them in a bind. Thats big fines/censorship/oversight. Their top licensed people would get their licenses suspended or they would get permanently barred from the industry. Their Compliance lawyers would get fired. All kinds of bad things can and do happen. All this has a paper trail that is hard to mask.
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How about they just wait it out a little longer then buy E Trade at the Auction?
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