i love trading with interactive brokers but not loving this chart right now. (please see my post regarding the investment brokerage sector below). i am not posting IBKR as a active short trade or set-up at this time, although from looking at the chart, i do believe there is more downside left on this move. more so i just wanted to point this out as a potential warning sign that those in-the-know at IB might know something that the rest of us don’t, as a lot of traders that i know, myself included, have accounts with IB. of course, this may be nothing but a sell-off or maybe an unwinding, possibly forced, of a fund with a large position in the stock, etc… but keep in mind, not only is IBKR flirting with making an all-time low, many other stocks in the sector are also at or near all-time lows (very bearish). this, while the stock market is just weeks off the highs of one of it’s most powerful bull markets in history??? something is rotten in the state of denmark. looks like uncle ben gave all his printed funny money to his beloved too-big-to-fail cronies (BAC, C, JPM, GS) to gun the markets higher and forgot about the little guys. the system somehow shrugged off the collapse of MF Global (so far) but i really doubt it could take another one of that size, especially since they all seem to be daisy-chaining one another on the way down and the failure of one decent sized firm could likely spill over to others.
