I guess the brokerage stocks are popular these days. Matt requested a chart of E*Trade. It looks similar to the charts of Goldman and Lehman that I posted the other day. But like Lehman, it’s just under its 50-day moving average. Personally, I’d rather not buy immediately under what should be resistance…
This is what I like to see from a company - the Fed lowered rates an hour ago, and I just got this e-mail from E*Trade:
We wanted to be the first to let you know that the Fed just cut the Fed Funds rate by ¼%.
In fact the Fed Funds Rate is now at a new 40-year low. While the cut in the Fed Funds Rate does not directly impact mortgage rates, mortgage rates continue to remain at 40-year lows also. Michael, nothing lasts forever, and these 40-year low mortgage rates will inevitably rise again. Which means you have a once in a lifetime opportunity, and probably last chance, to refinance or get a new mortgage loan before rates …
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