I don't see how you can short at these $17-18 levels. What is the point? Unless you are a daytrader, then I can understand.
EGRP might not go anywhere this summer; but if you are truly a long-term buy-and-hold investor, then you will wait it out. Because you have done your research. You believe that the Internet is changing the global economy, and that people are going online to invest, to bank, and to do their finances. And that E*Trade is your financial partner in this new world.
For the past several months, you are disappointed that EGRP has gone nowhere while both MER and SCH are up considerably. Why does EGRP have a market cap of $5 billion when both MER and SCH have almost $50 billion each? Remember that E*Trade might have been founded in 1982, its core business (being an OLB) really started with the Internet in 1996.
<http://www.etrade.com/cgi-bin/gx.cgi/AppLogic+About?gxml=hpc_disc_story_c.html&lvl=about>
So after being in the OLB business for about 5 years, it is a tremendous accomplishment that E*Trade now has annual revenues in excess of well over $1 billion, soon reaching $1.5 billion.
etrade.com
Remember, Merrill Lynch has been in business for well over 150 years, and Charles Schwab in business for over 25 years. It will take some more time for E*Trade to replace these giants, but we will get there. There is no way my generation will hand over our money for some strangers to manage. We are the Internet generation. With the abundance of online financial tools and resources, we will determine our own financial future. (Goosh, I work at Cisco too long; I am beginning to spew out the company vision and mission now).
Anyhow, once again, be patient.
Phil Tran |
