Brokerage bets: Schwab (SCHW) and E*Trade (ETFC)

Filed under: Newsletters, Charles Schwab Corp (SCHW), Stocks to Buy, E*TRADE (ETFC)

In his Stellar Stocks Alert, newsletter advisor Richard Schmidt sees long-term opportunity in select brokerage stocks. Here, he looks at Charles Schwab (NASDAQ: SCHW) and E*Trade (NASDAQ: ETFC).

"Some of the strongest financials in the world have lost 60%, 70%, even up to 90% or more of their value in the last year. Shares of Charles Schwab have come down too. But the stock has lost less than 50%, at its worst.

"Most of that has come since October. We had hoped the stock would bottom. But the stock continued to drop through support, meaning the downtrend is still in place. We may eventually see it go down by more than 50%.

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Brokerage bets: Schwab (SCHW) and E*Trade (ETFC) originally appeared on BloggingStocks on Sun, 15 Feb 2009 10:30:00 EST. Please see our terms for use of feeds.

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