Charles Schwab takes over TD Ameritrade. Now what?

THE WEEK

At the end of last week, the Market had zoomed up on trading volume hitting near 52-week high and a resistance area.  I would have expected there be a slight pull back off the 52-week high before the prices/action started up again.  It did pull back on Thursday and Friday but harder than I expected.  Here’s the SPY and QQQ charts.  It was a common pattern throughout the Market.

The amount of  money in the invested remained stable.  But you can see the there was considerable money shifting between sectors and on individual stocks.  Here the Sectors’ accumulation distribution changes from the prior week.

LOOKING AHEAD

I believe we are facing a week of uncertainty as the Market decides its next direction.

HOW AM I DOING?

Not a good week for me for a number reason.  The biggest reason is with Charles Schwab taking over TDAmeritrade, many of my trading accounts got reclassify to professional trader status because my accounts were either LLCs or corporations.  I had two choices:  1) accept the new classification and start paying fees of $130/month on each account, or 2) close the accounts and re-open as individual trading accounts.  I choose option 2 and lost money as I closed out trades.  As I said not a good week as I dealt with the mechanics of my trading accounts.

Thursday’s webinar will do a DEEP DIVE on the Greeks

and learning to use them to create profitable trades!