EGRP - E*Trade Group $60.88 (+3.00)(-2.69)(P3W +16.50)
EGRP is the #3 online brokerage firm with almost 550,000 accounts. EGRP also offers market
data, cash and portfolio management services, and options trading. About 30% of sales come
from sales of advertising on its Web site, international ventures, subscriptions, and other
services. Through joint ventures the company also operates in such countries as Canada,
France, Germany, Japan, the Netherlands, and Poland. SOFTBANK, its joint venture partner in
E*TRADE Japan, owns 28% of the company.
This play is really simple! Take a look at the 10-day chart. We are poised for a breakout over
$61 on a run to earnings April 14. The price has been rising over the last 7 trading days on
below average volume, indicating no sellers at low prices and a modest amount of buyers who
are already steadily bidding the price up. Any volume will juice EGRP into orbit. Wait for
upward direction (volume is the turbo-charging bonus), then execute your plan
E-Trade has agreed to buy ClearStation, a popular financial advisory website offering technical
analysis capability to over 90,000 subscribers. Just another helpful tool for e- traders that will
keep 'em coming back to E*Trade. Terms of the deal will not be disclosed until July.
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