Twitter Ticker ($ETFC)
StockTwits 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.