Getting Interactive with your broker

• Posted by Greg Harmon
• on July 20th, 2015

When I think of a broker in the typical model I think of my neighbor. A good guy and family man but he seems to have a lot of time to play golf at the club. Is that someone who is spending their time getting smarter to help you get smarter and richer? I’m not sure. But I really can’t blame him. Although called a broker he is really more of a salesman, selling his company’s funds and products. This may work for a lot of people. Give a friendly guy who works for a company that already has a lot of money and maybe get asked to a couple of dinners and a golf outing (I wonder how they pay for that?)

But if you are into a bit more of a hands on experience, learning and investing on your own this is an era of unprecedented information. And a lot of it is good. You are already reading the free portion of my blog, but many of my friends also give out lots of free ideas, as well as detailed explanations to help understand. You still need to be ready, willing and able to use the information and to understand it.

If you are one of those people then congratulations to you for taking control and bettering yourself. You also will now need an account to trade in. There are many discount brokers, but one that I like is Interactive Brokers. It is kind of stripped down compared to some others but it is cheap, back by solid financial footing, and trying to catch up on the tools and customer service side.

And speaking of financial footing, the stock of the company has been a real winner as well. The chart above shows the price moving higher over the past year. It paused a bit in March and April until a strong move higher in June. The stock is now consolidating that move, under resistance at 45.30. A move over that triggers a target of 49.8, but more importantly continues the tend higher. The momentum indicators have reset lower and remain in the bullish zones. And those Bollinger Bands® are opening to the upside. Watch this one for a chance to get on board.

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