Volume Spike Investor

E*TRADE Financial Corporation (NASDAQ: ETFC) is trading up best in show after Goldman Sachs raised its rating and downgraded Charles Schwab (NASDAQ: SCHW). ETFC was raised to Buy and SCHW was cut to sell.  Goldman liked E*TRADE’s trading data for the month and noted that Schwab’s asset management and net interest income revenue will be under pressure for another year.  At 8:18 AAM EST we have E*TRADE up over 8% at $1.84 on over 3.6 million shares.  Schwab shares are down 2% at $17.37 but only on about 15,000 shares.  We’d expect to see a pickup in volume of both.  On E*TRADE there are two share prices to watch as resistance: shares had an intra-day high of $1.87 on Wednesday and $1.90 on Tuesday. -JON OGG