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Thinkorswim Just Got Acquired By TD Ameritrade For $606 Million, What Now

Posted by Timothy Sykes on Fri 9th of Jan, 2009 08:15:53 AM
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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!

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  • Big T
    Tim, as I noted in another post over CTDC, a prime short you called out, Interactive Brokers has the advantage of some of the lowest commissions, and much more importantly, a very big shortable stock list, including those under 5 dollars if I recall correctly. Also they permit global trading of issues in many markets and forex from one account. It is also a direct access broker...
  • Vestor707
    The reason I went to TOS is to get away from these poor huge retail brokers like Ameritrade and Etrade. When TOS merges with Ameritrade, I will be the first to leave.
  • DonKing
    New to the brokerage business? TOS likely will be leaving the clearing firm that actually does the borrows. Duh. Grandma always said "Know what you shill".
  • nojobmaui
    Covestor is working on getting with IB or so they claim
  • Gurus Suck
    The YouTube Gurus were all super bullish heading into today, go figure. That's why they do videos. Videos, books, newsletters, suck fest.
  • who cares about gurus, havent u learned that yet? thats awesome news about covestor and interactve brokers1
  • I have to say that your blog is pretty cool. If you could add a few more videos I would really appreciate it!
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Start Here

Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

TIM Trades

View All
Date Stock Buy Sell Net
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $92,304 (644%)