Smoking Securities

Half Baked High Finance

Twitter Ticker ($ETFC)

with 4 comments

ETFC090619StockTwits chatter is tracking E-Trade as it continues the long descent to zero, hitting the lower trend line to form a triple bottom breakdown. Trading below a declining 20sma in a notoriously weak sector with more losses on the horizon, ETFC looks poised for bankruptcy, collapse, panic, all that good stuff.

If ETFC can trade above 2.10, there may be hope, but I wouldn’t hold my breath. This indebted broker is still taking loan losses from a subprime portfolio, who wants to be involved with this disaster?

With a falling credit rating and persistent shareholder dilution, ETFC is no place for investment. Save yourself the 1.26 and buy an apple.

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Written by chucklesamadeus

June 20, 2009 at 2:52 pm

4 Responses

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  1. did u read BArron’s> they r +.

    singh

    June 20, 2009 at 3:56 pm

  2. no, got a link?

    chucklesamadeus

    June 20, 2009 at 4:09 pm

  3. I assume our cash and investments in a brokerage account are safe. Never been thru a broker going bust or being bought – the latter seeming safer for my holdings, at least simpler, maybe.

    Lance Walley

    June 20, 2009 at 4:37 pm

  4. You’re safe below $250,000, and probably up to $500,000. Personally, I wouldn’t want to depend on a failing broker to execute my orders when the shit hits the fan, but I’m paranoid.

    chucklesamadeus

    June 20, 2009 at 4:47 pm


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