Out with ETFC

Today, I sold out of my position in E-trade. I bought into the company earlier this year, and my sense at the time was that it was headed for a turn-around ... and the stock rallied to over $5.00. But then, the new CEO made the statement that he had no intention of divesting the company of the subprime loans that are dragging the company down, and the price has been slipping ever since.

The stock regained some footing last week, with the swings in the market, but I no longer have much confidence that it will make a full recovery, so I've gotten out before it continues back along its downward trend.


In all, I've no complaints about the money I've made here - it's a very tidy profit, but I don't want to get caught holding the bag and hoping that the CEO gets over his insistence on hanging onto the "assets" that are dragging the company down.