What is your next move?
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SCHW was weak all day for no apparent reason
- Thread starter JackMorgan
- Start date
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I like SCHW ,IBKR.
I wonder if SEC thinks SCHW is quote '' criminal??'' SEC fined them $187 million, i see on SRN news. WOW if i read that right the fine was because SCHW did not disclose on a robo account\ they did not disclose they made interest on the account, HUH??
AS if any bank or brokerage does not disclose that?? They do disclose that on my account; its a fairly small % compared to community banks.
[MAYBE that small % was what really angered the SEC??]
I have much of my money tied up in stocks...Ones that I don't mind holding during a recession (Coke/Walmart).
But if I had cash on the sidelines (which I do...CDs), I would keep it there. But, if I had money to invest for the semi long term here is what I would do.
I would buy 5 to 10 large established companies (industry leaders)...Companies that have good balance sheets and not huge debt!! I would buy say 100 shares...Then do a covered call for the next strike price higher, for the June 23. Here are some examples (yeah, you could rip them, but they are mostly stable); Citi (C), Cisco (CSCO), CVS (CVS), Coke (KO), Apple (AAPL), I shares gold mining (RING), QQQ, Intel (INTC), Pfizer (PFE), Target (TGT), Enbridge (ENB), Exxon (XOM), Schwab (SCHW), ADM (ADM).
What if they are still down in June 23?? I will own quality stocks (still industry leaders) in the middle of recession. Rinse & repeat on the options for much higher prices. Do the June 24 with a strike price much much higher. I will have the option money, the dividend money, and the float (money market fund) on both of those since interest rates should be rising...There is also a compound effect on the money which hasn't been there for a loooog time.
I never catch the full bottom (blood in the streets) or the full top. But, I should get a nice return on my money when the economy turns around...
Assets under management...Patience grasshopper.
https://finance.yahoo.com/news/schwab-reports-monthly-activity-highlights-124500754.html
https://finance.yahoo.com/news/schwab-reports-monthly-activity-highlights-124500754.html
Statement is true. Robinhood could be imploding resulting in migration of assets to Schwab etc.
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SCHW doing well ,IBKR usually does also\
so many panic sell, no wonder they put mutual funds clearing in a different part....................................................................................