Tuesday, January 29, 2008

Free Stock Pick: ETFC

We thought about buying into this one yesterday, and after another 6.15% increase today, we're finally pulling the trigger. ETFC, which is the symbol for the popular E*TRADE Financial Corporation, was at $25.79 at its peak last year, and is now at $4.14 following today's run.

It bottomed out at $2.08 and is now in prime position to regain its position in the $20 range by the end of the year. As the chart above shows, the last three weeks have been better for E*TRADE, although the stock is still way below the norm. ETFC has shown signs over the last few weeks that it will continue to rise steadily back up to prominence.

The five day chart shown above gives and even better idea of how the stock will likely progress over the course of the next few months. It's a rather unspectacular yet significant enough growth that over time will benefit its shareholders.

With an average volume of 41,909,540 over the last ten days, you can expect more movement out of this stock pick than STTK will show initially, but both should end up at or very near to their highs from last year.


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