Black Monday

[peat]

yeh I must admit I have a small cover on the SP500 at present.

[bull....]

yeh I must admit I have a small cover on the SP500 at present.

good timing as we are breaking down today from the range due to weak manufacturing data. my call on the peak in the bond reversal was good as we head back down to lower rates again , oil is lower now than before the saudi attacks.

US manufacturing survey shows worst reading in a decade

https://www.cnbc.com/2019/10/01/us-m...-a-decade.html


its not only rates racing to zero. us brokerages are now racing to zero fees on brokerage , 2 firms this week already

Charles Schwab is ending commissions on stock trading and the brokerage shares are tanking

https://www.cnbc.com/2019/10/01/char...-and-etfs.html

[bull....]

td ameritrade just announced zero commissions on all online stock , etf trades. looks like the new model is zero commission trades in the US. disruptors have caused this like robin hood.

[dobby41]

td ameritrade just announced zero commissions on all online stock , etf trades. looks like the new model is zero commission trades in the US. disruptors have caused this like robin hood.

Where do they make their money then?

[bull....]

Where do they make their money then?

lot of them make money from asset management , stock commissions only a lttle part i think swarb was 6% of revenue ( guess ) and td like 30% hence why td stock price fell like 20% last night more than other broker stock prices. I wont hold my breath for commissions dropping in aoteroa the land of the lets fleece consumers on everything country lol

[Beagle]

https://thespinoff.co.nz/business/02...2+October+2019

Some serious infrastructure spending would appear to be appropriate.

[Bobdn]

Last October my financial assets dropped by 4.72 per cent. It was quite a month. Fortunately, everything recovered and if people stayed invested, it's been a good 12 months.

I was 89 per cent invested in equities at that point. Over the last few months I've reduced my equities to just over 60 per cent (Genesis is my biggest holding at around 6 per cent of my portfolio) and have cash on hand and some precious metals through Australian ETFs.

So I guess just at this point in time, on balance, I'd quite like a bit of market meltdown. So far so good, but I know we can do a lot better than this.

[Bobdn]

Dow futures down 200 points.

https://www.cnbc.com/2019/10/02/dow-...ll-street.html

I like this scene in Margin Call, especially when the Jeremy Iron's charector says he can only hear silence.

https://www.youtube.com/watch?v=Hhy7JUinlu0

As this thing goes down, it's going to hurt like a mother, even with my lower exposure.

[bull....]

Dow futures down 200 points.

https://www.cnbc.com/2019/10/02/dow-...ll-street.html

I like this scene in Margin Call, especially when the Jeremy Iron's charector says he can only hear silence.

https://www.youtube.com/watch?v=Hhy7JUinlu0

As this thing goes down, it's going to hurt like a mother, even with my lower exposure.

nasty night on US markets again ( although yhe hrlies are quite oversold) , just cant seem to break out of the giant trading range


what i was talking about stock commissions

The end of commissions for trading is near as TD Ameritrade cuts to zero, matching Schwab

https://www.cnbc.com/2019/10/02/the-...ng-schwab.html

So when you get charged 50 - 100 dollars in NZ to buy US stocks and the nz brokerage pays nothing thats what i would call gouging lol

[dobby41]

So I guess just at this point in time, on balance, I'd quite like a bit of market meltdown. So far so good, but I know we can do a lot better than this.

I'm with you there.
Looking to quadruple my investments (from selling property) in the next year so I'd really like to start from a lower base.
Happy to sacrifice a bit of what I have for the longer term