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Schwab may be in trouble here imo, read article: https://www.dallasnews.com/business/personal-finance/2023/03/28/charles-schwabs-growing-paper-losses-raise-questions-for-investors/
When I called a month ago several times Schwab said StreetSmartEdge will be going away, a few times they said it will stay and I asked them to please check with a supervisor and then they all come back to say SSE is going to be retired along with TDA standard platform and the name TDA. Why does Schwab play cat and mouse with the platforms and their clients using them? They should keep all the platforms for more choices...I feel sorry for the peeps using SSE as they are forced out to learn Think or Swim which is highly technical and hard to learn for me, I only use it for L2 quotes. I hope Scwab stock tanks!
Read the complaints!
https://topratedfirms.com/brokers/customer/charles-schwab-review.aspx
Agreed, I bought put options, Schwab bought TDA, an active trader broker, and now they want to convert all TDA clients to the outdated 1970's Schwab conservative investor platform, they don't want penny traders
This the next bank company to go under?
As soon as my TDA account moves here, I'm taking it all out.
Don't want to allow trading penny stocks. Sucks for you then. Let it tank to the shitter.
Hi C, Re: SCHW and trading around a core position..................
No, I don't use Stop Loss orders on any of my portfolios. Since my average holding time is usually in excess of 4 years there is usually capital gain involved in selling out of a position. So, while I might be stopping the value drop, I usually would be inviting a capital gain event. In the case of the SCHW shares there's about a 45% LT and ST gain overall if I were to sell now. I don't need the tax liability.
Instead I usually average down in share price at intervals. However, the cash reserve isn't a bottomless drawer. My last purchase of SCHW shares was at $49 and that pretty much exhausted the reserves of cash I'd held for that position. To conserve cash I usually only make one consecutive buy in a 30 day time window. That usually helps with Falling Knife Syndrome.
On that latest purchase I'll harvest a LIFO gain if the price rises to around $61.
Best wishes,
Marker: *After hour trading
SCHW
$47.01 -3.09 (-6.17%)
Volume: 22,246,355
* Yet another Fed rate hike .025% to 5.25% further spooking already panicked banking depositors & investors.
Hi EU, Re: Short Interest............................
Not much. Just 1.7% right now. It's not been very high even after the banking scare last month. I noted that RJF is also down a bunch in the last 60 days.
https://stockcharts.com/freecharts/perf.php?SCHW,RJF&n=200&O=011000
So, I'd say systemic rather than company specific.
Best wishes,
OAG Tom
Hi D,
I need $69 or so before I let some inventory go. I'll sell 10% of the position if/when we get there. Some trade for pennies, and some trade for percentages. If I get my Sell trade it will represent a 40% LIFO on my latest buy. And, my core position will still be there and happy.
In the mean time we'll collect ~1.7%/yr in dividends. This holding was AMTD until they were bought by SCHW in Oct, 2020. That was a conversion price and my base at $31.69. So, overall this holding is doing okay so far. Value Line's still showing a 3-5 year price target of $80 to $120. I can live with those numbers.
Best wishes,
OAG Tom
Hi EU, Re: Trade History with SCHW...................
Not all my trades have been perfect as of yet! Note I bought 5 times since the market peak of 2022.
You could say I've been in the Accumulation mode after a long period of Distribution. Currently I have about 16% more shares than I did at the start in late 2020. Cash is zero right now. The position value is up about 45% since the start.
Best wishes,
OAG Tom
Hi E, One of the things I look at before making incremental trades
Best wishes,
OAG Tom
Thanks E,
Blind Squirrels and all.......
OAG
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