Thursday, 13 December 2018

Bearish Robinhood

US equity indexes closed on the weaker side, sp -0.5pts at 2650. Nasdaq comp' -0.4%. Dow +0.3%. The two leaders - Trans/R2K, settled -1.6% and -1.5% respectively. VIX settled -3.8% at 20.65. Near term outlook offers further choppy upside ahead of the Dec'19th FOMC.




US equities opened on a positive note, but the gains were shaky, with the spx turning negative in late morning. The afternoon saw a low of 2637, and then clawing back upward. Despite sig' weakness in the Trans' and R2K, volatility remained in melt mode, settling in the mid 20s.


I've occasionally considered Robinhood as a possible broker to use, but I never liked the idea that I'd be having my stocks/options hosted with a relatively new company. There is a lot to be said for a brokerage with a history spanning decades. Most of all though, very few good products/services are free.

Technical problems, with co-founder of Robinhood - Baiju Bhatt

Robinhood has grown rapidly since 2013, with more than six million accounts. The number of staff remains very small. When things go wrong, as happened yesterday... for those clients who could not exit/close existing positions, it turned into an outright horror movie.

Today's CNBC interview...

... which (ironically) had its own technical problems at t+2.18.

T+2.18>2.26 would make for a very appropriate gif, for those inclined. 

For a sample of the VERY angry retail amateurs out there, see the infamous: Wallstreetbets

Yours, sleeps soundly, via Charles Schwab.  

Rarely a sky without aircraft

A little closer

Bullish moon
Extra charts in AH (usually around 7pm EST) @

Goodnight from London
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