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E*TRADE Financial Corporation Message Board

  • roblordie roblordie Sep 17, 2013 2:40 PM Flag

    I'm out after 5 years - 19,400 shares at $17.41/share - lost $7,000

    Damn I was stupid betting on this stock or any stock. I used to be the most conservative investor...index funds...but I was trying to chase gains during the crash of 2008 - I got out of the total market even at 1,050 (should have stayed in for ride up) and now this stock.... I'm almost even. I had made 180K somewhere around 2009...remember kriss shark guy laughing at me when the stock kept going up - could have made another 180K - so I was stupid and bought back in scared the train was leaving the station...dumb...

    Bought back in at around $25/share ($2.50 at that time) - so when you average my gain and now my loss I lose about $7,000 plus inflation loss on dead money (wanted to wait for even but would kick myself if a macro event brought down this stock...plus my money can finally earn interest) - will be nice to have loss for taxes for approx 10 years though...

    No joking....I think the stock is due for a ride up for many years but I cannot gamble anymore with my retirement, etc. - never again....index funds for me - I think the overall market will crash and I'm buying back in to index funds and holding for 30 yrs...

    For the record...I have learned a lot about stocks...I'm an amateur but am much wiser...

    Good luck longs and shorts!!!

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Take a break, and don't jump back in too soon. You still need to wait more than 30 days to avoid a wash and to keep the ability to deduct the loss.

      • 1 Reply to jimichimmi
      • Wow! You are timely and super nice to give me this advice...I was just telling me wife not more than 10 minutes ago that I wanted to jump back in...and ride up to $19.00 or so to make up some of that lost 40K. I was desperately reading about "wash sales" ...but after reading your message I think I will just wait 30 days...I really should just chalk up the 50K in lost opportunity interest to learning not to gamble.

        Sentiment: Strong Buy

    • I felt like a chump today - glad the stock went down the day after I sold it...made me feel a lot better. Will rise again but may take longer than some hoped for...then again, could jump quick...who knows...confusing stuff.

      Sentiment: Strong Buy

    • Now that I think of it I probably lost 50K due to the lost opportunity of earning say 3% on my money...part of me wishes I gambled and stayed in...seemed like a good gamble to stay in until at list $20...but I'm an amateur so all my posts could be garbage...just seems like a god bet...too late now...if I bought back in I would have to hold for 1 year to get good tax rates on capital gains...in a year the macro market could be in the toilet...

      Suck it up amateur...

      Sentiment: Strong Buy

    • I'm surprised the stock is at $17.50 after amazing DART news...wish I waited one day to sell but at least it did not jump to $18 like I thought it would after reading the news early this morning. Good news for me...I did the right thing. Still I am in the long camp. Trying to get away from this board habit so I can now earn money through hard work rather than gambling...

      Sentiment: Strong Buy

    • I'm with you I'm selling for a loss . sure shorty get a life ! why sell when they are going to get rid of the brokerage and putting forward 100 million. You must be standing on your head because your behind is hurting from your short position! good luck with that . etfc to 20 IMHO

    • I feel your pain, I will break even at $18 so I bought another $20K worth at $16 last week. Over five years in the red with this stock so I kept buying more between 8 and 12. This stock will probably be $25 in a few years.
      GLTA

      Sentiment: Buy

      • 2 Replies to actechjoe
      • What is super painful though is when I went on my stock binge...the day xmradio was at .10/share I almost spent 10K and bought 100K shares...I stuck with ETFC instead...well either way this is gambling...glad I'm back to conservative investing...

        Sentiment: Strong Buy

      • You're almost there. It pains me to see the stock at $17.48 right now...but it could have gone the other way...the way I look at it with a 2% return I will get my small loss back anyway...the hard part is what I lost to inflation / other possible uses of my money...

        Sentiment: Strong Buy

    • I got out at 17.26 pending a fill or some reasonable buying op. I traded I have NO idea how many thousands of shares and dozens of contracts over the last 4 years, and frankly made a great deal doing it. Perhaps 18k or so over that period of time . . . Now RadioShack, there was my bane last year.

      Still, this year is still well over a 70% realized return with another 45% added in offset unrealized gains replacing unrealized losses. At one point last year I was down to 4k shares of eTrade mostly bought on margin and NOTHING else, and the way we were getting hammered my end of that was worth around 17k on average for awhile. I ALMOST said screwit and gave up and bailed the market. I'm very glad that I did not.

      This stock still has legs, but its running faster than it should be, and I'm wondering why.

      • 1 Reply to clgl_fubar
      • Fun talking to a rational investor - thank you...wish more holders of this stock would talk back and forth...good for learning...I think this stock still has legs for sure but is due for a pullback until we get news one way or the other. Long term without bad surprises and/or macro events to the negative this stock will keep rising.

        Sentiment: Strong Buy

    • I am trying to figure out how you can "will be nice to have loss for taxes for approx 10 years though..." AND only have a 7,000 loss.

    • I got 15000 shares avg $9.15...I'm sticking for $24 and then $32. If this thing is $17.50 with no PE then when it gets one it will shoot up like a rocket.

      JMO,

      Don't let the door hit cha where the good lord split cha on the way out.

      ~S

 
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