ETrade took it on the chin over the few months. They were not kidding when they said they wasted $2 million bucks (http://www.youtube.com/watch?v=BnQMq5wtZcg).
ETrade recently sold a portfolio asset backed securities for 27 cents on the dollar. Acting CEO Lilien says getting rid of asset-backed portfolio 'best option' (http://www.marketwatch.com/news/story/ceo-leaves-e-trade-gets-255/story.aspx?guid=%7BF94DB378%2D309E%2D4D37%2D8B7C%2DB8DAF2092CB2%7D).
ETrade had been in a massive distribution pattern going into July of 07.
It had great respect for my overhead Gann Angle (Down 1 by 4). Since the 3rd retest failed to advance, it had a high probability of diving.
An XTL Breakdown trade stood to be very profitable.
Entering a short at 22.36 would have been the spot. Two days later the trade triggered.
The rest is history. Today it is trading at 3.99. It found support at a 1 x 1 Gann Angle and is now just below that angle. Let see what happens now.
This is one of many of many financial institutions to have been hit hard with recent events. With Advanced GET Strategies and Education, you could have been prepared for this action long before the "news" or "truth" came out.
Ernest O.
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