Schwab cuts commissions to zero on US stocks, options and ETFs

[Cabin111]

With the power going out in California (because of potential wild fires), just wondering how many clients had to make phone orders to clear out positions?? Thousands of traders yelling "AHHHH" at their dead computers!!!

 

[murray t turtle]

"The retail investor is left with two choices in the current market, pay the spread, or remain unexecuted. Passively bidding for or offering stock for sale is a dead end, the opportunity no longer exists."

http://www.nanex.net/aqck2/4713.html

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That;
or open a position, like longs with limit.And for practical purposes, can sell into an uptrend with market order=positive slippage sometimes , with liquid stuff. And really since i like to get paid also; i NEVER expect a market maker to work for free/all the time LOL,

 

[Cabin111]

Today (Friday) Schwab was over $40. per share...Day's Range 39.43 - 40.05

I think when they announced the zero commission, it was at about $42. and it fell below $35. per share. I own some Schwab shares (and do covered calls on them). Just glad to see the market not panic on Schwab with their move. They still use their sweep money to great advantage. I think they are the 7th largest bank in the US. Also seeing them doing nice ads on TV against the Big Boys. Boring, very stable, can reach a call center day or night by phone. Nice safe company for me...With a dividend.

 

[Cabin111]

The Charles Schwab Corporation (SCHW) Hit over $44. a share today!! Assets under management, the float, and their bank is making a big difference. Would love to see this quarter how much new money comes into their brokerage firm.