*Investors Blog*

[SC Maintenance]

So @Pablo

1) Were you placing your order after hours - or did the order include the option to "fill after hours". All brokers limit the number of shares that can execute after hours - too easy to manipulate the price when the market is closed. Its 5000 for Fidelity. Note that even if the market is open, if your limit order includes the "include after hours" in the order, it won't take it. Try it sometime and choose the "during market hours only" option? Its also possible they limit the shares on thinly traded stocks during market for the same reason?

2) This doesn't surprise me - I can see prefeed's on Fidelity I can not see on Schwab, and vice versa - and while I have never actually traded them all the research I have done on them tells me that these are traded like fixed income not an equity. I doubt Schwab would make you happy here. You might want to call and talk to one of the more full service oriented brokers like Merrill or Chase. You need to remember Fidelity and Schwab are online high volume brokers for us peasants, not wealth managers for folks like you

3) I do trade on Schwab an ETN - which has a fee of $0.10 (yep not kidding, 10 cents a trade). Every time I do it I get a pop up box that asks me to confirm I accept this transaction fee. I have to both click a radio button and confirm - so the point is to make sure the client knows for sure there is a transaction fee. Have you tried loading a trade on Fidelity for these ETF's. I presume it would clearly tell you there is a fee. Are you wanting to trade these - or just trying to ensure you don't accidentally pay $100?

 

[Pablo]

So @Pablo

1) Were you placing your order after hours - or did the order include the option to "fill after hours". All brokers limit the number of shares that can execute after hours - too easy to manipulate the price when the market is closed. Its 5000 for Fidelity. Note that even if the market is open, if your limit order includes the "include after hours" in the order, it won't take it. Try it sometime and choose the "during market hours only" option? Its also possible they limit the shares on thinly traded stocks during market for the same reason?

2) This doesn't surprise me - I can see prefeed's on Fidelity I can not see on Schwab, and vice versa - and while I have never actually traded them all the research I have done on them tells me that these are traded like fixed income not an equity. I doubt Schwab would make you happy here. You might want to call and talk to one of the more full service oriented brokers like Merrill or Chase. You need to remember Fidelity and Schwab are online high volume brokers for us peasants, not wealth managers for folks like you

3) I do trade on Schwab an ETN - which has a fee of $0.10 (yep not kidding, 10 cents a trade). Every time I do it I get a pop up box that asks me to confirm I accept this transaction fee. I have to both click a radio button and confirm - so the point is to make sure the client knows for sure there is a transaction fee. Have you tried loading a trade on Fidelity for these ETF's. I presume it would clearly tell you there is a fee. Are you wanting to trade these - or just trying to ensure you don't accidentally pay $100?

1) During trading hours.

2) I have heard that preferred shares are pain most all places.

3) Re-read what my REAL concern is.

 

[RAVL]

Your trading is of the sort that a live body would be helpful. I would look into Merrill or Wells Fargo. You are savvy enough to steer clear of the BS but these firms have actual broker reps.

Try them with a slice of assets and see how it goes.

Opt out of any fully paid lending programs. If you aren’t familiar with them let us know.

HTH.

 

[Fitter30]

(I had a long response typed and poof gone - arrggh - anyway)

I'm 65, near 66 retired, and multimillionaire through starting early, hard work (multiple jobs and side gigs), $ saving discipline and tight spending control and yes a VERY diversified investment process (not just stocks/bonds) I grew up low middle class, but not needing anything. My dad also followed the right path to a very comfy retirement. Thanks for the long post, but um, yeah......I'm in a new phase of life, I'll leave it at that.

Back on Topic! So no one has actually used IB? Hmmm.....I clicked around on the IB site and support seems weak to non-existent. Seems like IF something went awry one would be fighting upstream. I think I will pass. I don't think they promote one thing or another though. Seems like you can invest in whatever you want and again a discussion for a different post.

I am looking for a another broker beside:

Vanguard - terrible brokerage and skimpy awful site. But sure, yes good low costs funds. But I am generally no longer riding the ups and downs for the majority of my investments. I want them to work for me daily and pay me. Yes I have some set aside for growth which of course is best long long term. Support not great, but don't really need it.

Fidelity - great site, online good, support mostly OK, but they have no internal communication, employees seem generally uninformed and must tell them what exactly what do to, weakish funds, bond trading OK. They did

ommunication from you tube videos, person to talk to and email article's to read. Have also gone to two luncheon with other investors with speakers to answer questions and provide content. Wish i woild of changed years ago from who i dealt with.

Well the Philly Fed said it was overstated by a million jobs last Q2. But I believe the latest number

Biden second-quarter job numbers off by 1 million, Philadelphia Federal Reserve Bank says

The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.

www.washingtontimes.com

The head of the Philly fed has been there since 2015

Federal Reserve Bank of Philadelphia

The Federal Reserve Board of Governors in Washington DC.

www.google.com

 

[alarmguy]

Today's thoughts, looking at my wifes 401k which we rarely ever look at.
Americans are feeling rich right now, it's insane what these 401k's and investment accounts look like right now, with the climb in the stock market people are spending and feeling rich.
I don't follow interest rates and inflation much in the news, Meaning, I have my own stupid read on the economy. I always believed the media publishes the news to fit the market.
I think inflation is going to be tough to kill in the sense I don't see how the Fed will ever be able to cut rates this year. This economy to the working class with 401k's investment accounts etc is rolling along full speed and how easy it is to forget it could all end at the snap of a finger but I don't think that is anytime soon.... (gulp) Maybe some time to go, meaning not weeks or months but many months or another year still.

Ps. don't ask me what I am talking about because I have no idea. Just my perception in this part of the country. Not even tourist season here on the coast and the place is lit up with off the rails commerce taking place. Places are packed ... and did I say, its not tourist season yet?

Pss. Why do poptarts (no disrespect to the young) expect rates to come down? They aren't high, they are average but they don't know it because for 15 years they have been artificially low. Low rates mean the economy is struggling, average rates means things are in balance. I personally wouldn't be surprised to see interest rate increases later this year, NOT cuts and even with increases it would be standard stuff before Gen Z and some millennials came along.
Let's not ignore the HISTORIC and CLIMBING national debt further increasing inflation pressure.

 

[SC Maintenance]

1) During trading hours.

2) I have heard that preferred shares are pain most all places.

3) Re-read what my REAL concern is.

1) During trading hours. == So your placing the order for the Day, expires at end of trading, during trading hours. If yes, then there is something funky with your account. There shouldn't be a limit for a market order when the market is open, assuming you have the cash to cover the trade if buying, and none if selling. Your going to have to call someone in number 3 to see if there is some restriction on your account. Was this by chance a 401K you rolled? If so, the rules may have stuck with it or something?


3) Re-read what my REAL concern is. -- Your real concern is that Fidelity customer service doesn't know anything? Doubtful you will find much different elsewhere unless your paying for a full service broker. Support for commission free trades don't exist because there is no profit in our trading, the broker makes a little money from the market makers and in selling the data stream to the quants. So your dealing with people that are basic customer service reps, not finance savvy account reps. Won't change unless you get a real broker as a paid service, if those even exist anymore.

 

[Pablo]

1) During trading hours. == So your placing the order for the Day, expires at end of trading, during trading hours. If yes, then there is something funky with your account. There shouldn't be a limit for a market order when the market is open, assuming you have the cash to cover the trade if buying, and none if selling. Your going to have to call someone in number 3 to see if there is some restriction on your account. Was this by chance a 401K you rolled? If so, the rules may have stuck with it or something?


3) Re-read what my REAL concern is. -- Your real concern is that Fidelity customer service doesn't know anything? Doubtful you will find much different elsewhere unless your paying for a full service broker. Support for commission free trades don't exist because there is no profit in our trading, the broker makes a little money from the market makers and in selling the data stream to the quants. So your dealing with people that are basic customer service reps, not finance savvy account reps. Won't change unless you get a real broker as a paid service, if those even exist anymore.

1) Happens with DAY orders and GTC orders (which actually expire in 364 days)

3) Yes probably on point. Huge organization = little to no communication!

 

[Pablo]

Bond Fund Buying Day!!!!

 

[Warstud]

Will we see a 2:30 comeback ?

 

[Pablo]

Will we see a 2:30 comeback ?

Nope!

 

[alarmguy]

Well, that was no surprise, the economy is strong, no interest rate cut needed if anything might need a raise in a few months.
For now, I’m glad I sold my GM last week at almost right on its high, my major holding is WMT and that’s up today
If GM gets smacked enough, I might buy it back someday
Of course, the 401(k) index funds are getting bashed a little bit

 

[Dave Hess]

JP running out of ideas what to do with this on going inflation.

 

[Jdeere562]

I'm no investment person. Just lived within my means for all these years.

i was brought up on the saying, watch care of your pennies, and your dollars will take care of themselves.

Closed a checking account today, that I only use once per year, just to keep it open. Only had around $1000 in it. Bank in another town, just so they would cash my checks here. Have since gotten a CD with them, so I can still cash my checks from the other banks, without a charge.

They were charging ne $1.07 per month for paper statements. Can't hardly remember all the passwords and crap for the online stuff I have now. Easier to close the account.

 

[Pablo]

JP running out of ideas what to do with this on going inflation.

Dial 800-Big-Mann

BM: HUH?

JP: Stop spending money we don't have. I've done all I can. Your turn!

 

[ArrestMeRedZ]

...JP: Stop spending money we don't have. I've done all I can. Your turn!

But don't you know, Government spending has no effect on inflation. It's all the greedy profiteering landlords/farmers/corporations, etc.
No effect at all. Nothing to see here. Am I going to have to report you to the thought police, I mean the FBI?

 

[Warstud]

JP running out of ideas what to do with this on going inflation.

I think Energy and Housing / Rent was up a fraction

 

[Warstud]

But don't you know, Government spending has no effect on inflation.

Government spending during Covid caused it .

 

[ArrestMeRedZ]

Government spending during Covid caused it .

And the ridiculous spending after, but that's not the spin they are putting on it.

 

[Warstud]

And the ridiculous spending after, but that's not the spin they are putting on it.

Right ..... then all the back orders vs demand sending prices skyrocketing . You get the picture

 

[zzyzzx]

I don't see how the Fed will ever be able to cut rates this year.

Are you just figuring out this now? Because if I am to believe the media there are still people expecting rate cuts this year, for reasons I don't understand.