E*TRADE Taken as a Punt So Far (ETFC)

E*TRADE Financial Corporation (NASDAQ: ETFC) is down on profit taking into a soft tape this morning.  The online broker lost -$0.02 EPS vs -$0.03 estimates from Thomson Reuters; total customer assets rose; net operating interest income flat; loan loss provisions fell $24 million.  Shares are trading down only about 0.5% at $1.81 on 700,000 shares as of 8:49 AM EST.  This one had been up initially after the report but the soft tape and profit taking had this one down almost 2% earlier this morning.  With an average volume of more than 39 million shares and some days with 100 million shares traded, this “volume spike” should maybe be considered a “volume whimper.”

JON OGG