Yamit2000

scheduling AMTD for short

Short
NASDAQ:AMTD   None

Just hours after Charles Schwab announced that they were canceling stock trading, ETF trades .... Ameritrade AMTD announced that they were also cutting fees. (Like Schwab, that does not mean that Ameritrade customers will not pay any trading fees at all. Customers will still pay options trading fees).
This move is expected to hit the company's revenue because about 32% of its revenue in the quarter ended June came from commissions.
Ameritrade was down 26% on the day of the announcement to 34.67$
o will Report on October 21
o Over-sales RSI indicator
o Highly declining volume (but also upward correction - high volume )
At this point, it may fix upward before further declines. level 32.5 represents a significant level that can be entered below this level if it break.
If the stock goes to closing the gap, worth considering scheduling a long entry into the gap.
All of the above, of course, at your own discretion, your trading rules and your preferred trading strategies.
This is not a recommendation to buy / sell.
Good luck..

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Comments

I day traded it short that day of the drop!
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