Haven´t checked a single line of company´s reports or any related news. I´m just trying to find a new broker and checking the charts one by one to see if the market will or not dump the shares.
I found IBKR may be a good buy as it bounced of the Hagopian Line and has been flat for several weeks now, underperforming the market. Notice also the price broke former,...
Banks -> Asset Managers -> ?? ==> BROKERS !
SECTOR THEME FOR 2017 ?
Main street banks flew first, and we are betting that asset managers will follow (LM, BX). And then what? The logical step down the sector will be the brokers: Smaller, less visible, less owned, yet sure to benefit from the pickup in trading volume of the bull market. They will be equally served...
I previously suggested that IBKR is slowly heading into a major top. Today it headed into the top of wave (iii). It may not be there yet, but this is one point where I start scalping against my primary position with put options. I'll scale in if we keep rising and scale out around $37
This is my primary count into the primary top in IBKR. Fibs project into 58 and change. The top is based on fib and wave count on the monthly chart. The correction may only take us back down to 30 but should have a longer duration than the primary wave 4.
I think this is a great chart that is setting up breakout to the upside. There should be some resistance around the $44-45 range, but I do not think new highs are far away.
