GOIH Capital Markets: ETFC headed straight down

Etrade Financial (ETFC) traded below $9.00 today on vol of 9.235 million shares. Since we started covering ETFC the stock is the worst performing company in the S&P 500 Financial Company index. Moreover, ETFC is fighting several class actions lawsuits. We are hearing rumors that other class actions are about to be filed concerning ETFC OTCBB stock trading. We will stand by and see if the rumors are true. In any event ETFC is looking bad and the future is not bright. No merger partner is on the horizon and as a stand alone, there is no future in trading.