Oh yes, the news is now a day old so if you haven’t read the PR yet, do it HERE now.
As you might know, Thinkorswim is the broker I use and recommend for shorting stocks under $5, will it continue to be?
To tell you the truth, I have no idea….it all depends on how TD Ameritrade consumes Thinkorswim. Maybe they’ll stick to the awesome system that currently exists, maybe Thinkorswim’s legendary customer service will suffer, maybe nothing will change, I just don’t know and neither does anybody else.
The good news is that Interactive Brokers actually has a better system for shorting these hard-to-borrow stocks as does Speedtrader and a few others…so we’ll figure it all out eventually.
Even better news is that mergers take time and Thinkorswim ain’t going anywhere for several months–the PR says six.
While the unknown is slightly annoying, fear not, this is just on step of many steps of adaptation you’re gonna need to get used to if you’re gonna be a trader for any period of time…don’t be a sissy value investing dinosaur, just adapt to the changing times!
Tags: Adapting, Breaking News
