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TD Ameritrade CEO Fred Tomcyzk discusses how individual traders will react to the first trading day of the week.
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Thank you listen to be -- TD Ameritrade well makes its money off the vocalist -- editor at today just average investors as well.
On whether they're gonna get in on the fun today joining us now is spreads on to TD Ameritrade CEO I'm -- You have -- there's go to calls on on the average investors anyone.
What do you think they do today.
Well I think going into the open here our order book which is the open orders that we have to execute at the open right away.
Basically are pretty light have been like for the last two days are still like this morning.
But I do think once the markets open and active trader will actually go go into the market but they'll watch to see what happens with the opening first.
But we expected to be a relatively smooth opening this morning.
Now on -- any of them sort of getting its -- or rob.
Trigger happy the last couple of days not being able to trade not being able to pounce on a news or developments.
What.
While they were able to trade on on our platform anyway futures and foreign exchange you know to some degree so.
The real people that want to trade could trade and in certain things may not have been able to trade what they want.
Our call volumes were relatively -- that could be because of the news.
It could also be because of the people impacted by the storm represent -- -- sort of are trading volume.
So they basically I've been preoccupied with their safety of themselves and their family and friends for the last couple things.
You know as a group collectively which we've heard a lot of individual investors are sort of pulling things back a little bit you know.
Maybe not quite as optimistic about where to the economy is -- -- that out of the markets.
Sold their own individual participation.
Has been declining.
I don't know that necessarily.
Telegraph some problems on the road but -- -- Well I think we're living through I don't know a lot of uncertainty in the market whether it's Europe whether it's the election -- that direction of the US economy the federal debt.
All those things certainly are weighing on the retail investors mind.
And you'll definitely they've been moving to conservative position as have businessmen and protecting liquidity.
Going their positions and and being fairly risk averse.
I'll hopefully you know I am cautiously optimistic on the US economy that once we get through this election.
Regardless of who wins our leaders in Washington come together and develop a proper plan it with our fiscal.
