Thoughts on how to stay long… For Etrade. I’m just starting to prepare myself mentally on HOW TO HOLD FOR $15 :-)

This is going to be a tough one! I think quite a few of us have between 10,000 to 20,000 shares of ETFC at sub-$4 to sub-$5 basis. It’s going to be tough (for me at least) to stay long…my target is $15. But watching the stock on a intra-day basis PLUS these silly bashers feeding us crap which all adds up to NOISE.

For me — I’m going to watch the stock on a technical basis for the most part. I decided this is the better way — since we have done the DD for E-Trade’s fundamental analysis and its competitive product standing, i.e., best of breed vs SCHW, AMTD, et al.

I WILL be part of this run-up to $15 — even if it takes a few months to a year. Just like we all look back on GOOG, BIDU, RIMM and AAPL (no cracks about AAPL activity tonite - please) and say to ourselves — man if I just bought that stock and just held for $50-$100 point gain…

So what I promise myself I will do each day — is NOT look to close out my ETFC position intra-day… I will look at the daily chart and look for any kind of technical reversal setup — then I will place my stoploss at the point of reversal. If I get stopped out then I will then place my re-entry buy order at the point where the technical chart confirms continuation to the upside (toward my $15 target)…

This is the only way I (personally) will be able to hold onto ETFC and make my $15 target. If I listen to the NOISE or FEAR or GREED, e.g., CNBC, message board bashers — and me (”me” is my biggest enemy to holding since I FEAR losing what could be a $20,000 intra-day gain)…I would end of selling too soon only to watch the boyz (wise, pres, rosetti, equitydet, numbersss…etch) ride ETFC up to $15 all the while I’m on the sidelines afraid to chase…

Anyways — I’m just starting to prepare myself mentally on HOW TO HOLD FOR $15 $\\$