It’s hard to tell what is going on with the markets lately. Today began with the Dow Jones Industrial Average being down a little over 300 points and in the last part of the day it surged to finish almost 300 points up for the day.

One of the stocks I have a position in, E*Trade Financial, was a beneficiary of the late day surge, posting a 15%+ gain on the day ahead of an earnings announcement scheduled for tomorrow. E*Trade has been beaten down by the subprime mortgage fallout because of their exposure to the industry, but I see their trading business keeping the business viable while they sell off their mortgage business one piece at a time.

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