William Ellard

E*Trade: Primed To Turn Around?

Solid article Cindy!
I am still analyzing E*Trades results, but my first read is very positive. If one backs out the large non-recurring charges, and other positive, negative one time hits - I come up with ETFC earnings over .19 a share this Q. And remember that DART's were up 12% from last years Q, were they earned .39 - so normalized earnings will be back over .40 per Q, once ETFC unwinds its foolish position of being a mortgage reit. This will take a few years, but the market will see these trends and ramp the stock price up. I fully agree the price now should be higher than the BK scare of last November.

Bill