This is our first short-term swing trade set up using our new tool for monitoring dark pool trades.
On Friday, August 16, 2019, unusual dark pool was detected with one $5.5 million dark pool print occurring at 11:08 AM (Pacific) and then another $5.5 million print after market close at 1:25 PM. Each trade represents only about 1% of the daily average volume in the stock.
Schwab stock price has dropped from around $44 to around $37 which has put it’s P/E at 13.9 and its Forward P/E at 13.6.
The dark pool trades are occurring off a swing bottom which suggests a large player is betting on a swing move up.
On August 14, 2019, Charles Schwab released its Monthly Activity Report. Company highlights for the month of July 2019 include:
- Core net new assets brought to the company by new and existing clients totaled $19.3 billion for the month, a July record. Net new assets excluding mutual fund clearing totaled $18.2 billion.
- Total client assets were a record $3.75 trillion as of month-end July, up 8% from July 2018 and up 1% compared to June 2019.
- Client assets receiving ongoing advisory services were a record $1.96 trillion as of month-end July, up 8% from July 2018 and up 1% compared to June 2019.
Charles Schwab stock is a swing traders stock and not a long-term buy and hold gambit IMO. Notice the daily chart where the stock just swings back and forth without trending higher. I’m not adding Charles Schwab stock to the long-term buy and hold portfolio but wanted to bring to your attention for the sweet looking swing trade setup.
Disclosure: I do not hold any position in SCHW.