EarningsBeats.com Digest for October 2, 2019
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Dear EarningsBeats Digest Members.
Today marks the debut of Tom Bowley's "Trading Places LIVE"! Join Tom today from 9-9:30 am eastern before the opening bell. Discussions will include various topics such as earnings reports, industry group charts, sectors, big picture considerations, etc. To join Tom, click here: https://zoom.us/j/248920901
See you at 9!
At your service,
John Hopkins
EarningsBeats.com
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Wall Street Saw Zero Commissions Coming
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The idea of following relative strength is that Wall Street generally has information before we do. If you think it's a level playing field, then you should probably think again. By viewing charts the way that we do, we have a better chance of seeing good news and bad news coming - long before it's announced. The online brokers are a perfect example. Let's use TD Ameritrade (AMTD) to illustrate:
Even before Tuesday's action, I think it was pretty clear that AMTD was not in favor. It was downtrending on an absolute basis and vs. its investment services ($DJUSSB) peers throughout 2019 and it did the same vs. the benchmark S&P 500. To top it off, investment services had failed to breakout on both absolute and relative bases. Then this morning, Charles Schwab (SCHW) announced it would eliminate trading commissions on stocks and
options. While that may have come as a shock to some, it was not shocking news to Wall Street, which had already bailed on these companies.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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