Stock and ETF brokerage costs plunge

Discussion of the Stock portion of the Permanent Portfolio

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pugchief
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Re: Stock and ETF brokerage costs plunge

Post by pugchief » Sun Oct 20, 2019 9:58 pm

ochotona wrote:
Sun Oct 20, 2019 1:05 pm
Oh... I need to swap my IAU for AAAU. 7 basis point difference in fees. $20 difference annually for me in my Fidelity HSA. This new no-fee world is going to allow everyone to migrate to the best-of-breed ETFs.
Do you think AAAU is better than GDLM which has the same expense ratio? If so, why?
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ochotona
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Re: Stock and ETF brokerage costs plunge

Post by ochotona » Sun Oct 20, 2019 10:19 pm

I don't have an opinion about AAAU v GLDM.
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Re: Stock and ETF brokerage costs plunge

Post by ochotona » Mon Oct 21, 2019 8:45 am

Devil in the Details... Fidelity won't let me create simultaneous MOC sell and buy orders, unless I have cash available to trade to cover the buy order. Oh my. This is a snag. I can do that at Schwab. I don't think I can migrate over to Fidelity with my large account. It's a show stopper.
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ochotona
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Re: Stock and ETF brokerage costs plunge

Post by ochotona » Mon Oct 21, 2019 11:17 am

ochotona wrote:
Mon Oct 21, 2019 8:45 am
Devil in the Details... Fidelity won't let me create simultaneous MOC sell and buy orders, unless I have cash available to trade to cover the buy order. Oh my. This is a snag. I can do that at Schwab. I don't think I can migrate over to Fidelity with my large account. It's a show stopper.
Oh well I still am going to use the FIDELITY VISA card.
Last edited by ochotona on Mon Oct 21, 2019 2:45 pm, edited 1 time in total.
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InsuranceGuy
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Re: Stock and ETF brokerage costs plunge

Post by InsuranceGuy » Mon Oct 21, 2019 11:33 am

Are MOC that big of a deal? I could see if you bought stocks and you wanted to buy or sell at close in anticipation of an earnings move, but if you are trading ETFs why not just sell 30 minutes before close and then buy your new shared fast following?
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pugchief
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Re: Stock and ETF brokerage costs plunge

Post by pugchief » Mon Oct 21, 2019 1:36 pm

ochotona wrote:
Mon Oct 21, 2019 8:45 am
Devil in the Details... Fidelity won't let me create simultaneous MOC sell and buy orders, unless I have cash available to trade to cover the buy order. Oh my. This is a snag. I can do that at Schwab. I don't think I can migrate over to Fidelity with my large account. It's a show stopper.
You can do that if you have a margin account, but not a cash account.
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Re: Stock and ETF brokerage costs plunge

Post by dualstow » Mon Oct 21, 2019 1:50 pm

ochotona wrote:
Mon Oct 21, 2019 11:17 am
ochotona wrote:
Mon Oct 21, 2019 8:45 am
Devil in the Details... Fidelity won't let me create simultaneous MOC sell and buy orders, unless I have cash available to trade to cover the buy order. Oh my. This is a snag. I can do that at Schwab. I don't think I can migrate over to Fidelity with my large account. It's a show stopper.
Oh well I still am going to use the Vanguard VISA card.
Vanguard has a Visa?
Under political pressure, Chick-Fil-A 🐓 chain cuts off the Salvation Army - wsj. :o
Vanguard treasury money market now yields 1.71%
compounded (last week, 1.72-3%)
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ochotona
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Re: Stock and ETF brokerage costs plunge

Post by ochotona » Mon Oct 21, 2019 2:56 pm

InsuranceGuy wrote:
Mon Oct 21, 2019 11:33 am
Are MOC that big of a deal? I could see if you bought stocks and you wanted to buy or sell at close in anticipation of an earnings move, but if you are trading ETFs why not just sell 30 minutes before close and then buy your new shared fast following?
I just don't want to be exposed to that whole "selling the customer's order flow" thing. That's just sleazy and creepy.

Very interesting, the Schwab rep just told me my IRA is NOT set up for margin trading, but I have placed a simultaneous MOC sell and buy order at Schwab, that was something definitely Fidelity could not do. With Fidelity, I'd have to wait until the next day to do the second leg of the trade. (bzzzzt) No good at all for the way I want to trade. When I get a momentum signal to move a large part of the portfolio, I want to do it in one go, get the exact closing price, not have my large order sold, not be exposed to bid-ask spread.

Sorry, FIDELITY Visa card.
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Re: Stock and ETF brokerage costs plunge

Post by dualstow » Mon Oct 21, 2019 3:39 pm

Ah. I have that card. Had it since it was an Amex. Not bad, that 2%.
Under political pressure, Chick-Fil-A 🐓 chain cuts off the Salvation Army - wsj. :o
Vanguard treasury money market now yields 1.71%
compounded (last week, 1.72-3%)
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Re: Stock and ETF brokerage costs plunge

Post by InsuranceGuy » Mon Oct 21, 2019 3:59 pm

ochotona wrote:
Mon Oct 21, 2019 2:56 pm
When I get a momentum signal to move a large part of the portfolio, I want to do it in one go, get the exact closing price, not have my large order sold, not be exposed to bid-ask spread.
Isn't the bid-ask spread essentially 0 for all of the large funds you'd be doing momentum on? S&P 500 as IVV,VOO,SPY,etc and International as EFA,VEA,etc have such high volume is there any bid-ask spread? Even TLT has average volume of 12m+. The only fund I ever even think about bid-ask is REITs (VNQ) and that still has 4m+ in volume.

Plus, Fidelity doesn't sell your flow. I have received favorable market orders in nearly all cases that I can see, though I guess that could change at some point. To each their own, it seems very niche I guess is all I'm saying. Most people don't even know that at-the-close orders exist.
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Re: Stock and ETF brokerage costs plunge

Post by ochotona » Mon Oct 21, 2019 5:16 pm

I am known to obsess over small details.
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Re: Stock and ETF brokerage costs plunge

Post by InsuranceGuy » Mon Oct 21, 2019 5:17 pm

ochotona wrote:
Mon Oct 21, 2019 5:16 pm
I am known to obsess over small details.
Well at least you have something that checks your boxes !!
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