Stock Market Rollercoaster
Jan 23rd, 2008 by Shaun Carter
It’s hard to tell what is going on with the markets lately. Today began with the Dow Jones Industrial Average being down a little over 300 points and in the last part of the day it surged to finish almost 300 points up for the day.
One of the stocks I have a position in, E*Trade Financial, was a beneficiary of the late day surge, posting a 15%+ gain on the day ahead of an earnings announcement scheduled for tomorrow. E*Trade has been beaten down by the subprime mortgage fallout because of their exposure to the industry, but I see their trading business keeping the business viable while they sell off their mortgage business one piece at a time.
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