I know some guys at Liquid Motion and Shadow Trader. They seems to have been sucked through this deal and they are none too happy about it. I know of 2 forms working on deals with TOS for some special programs. Those were cancelled today. It may end up being all good. But the stand back reaction is so heavy right now it will have short term negative affects in my opinion. TOS seems confident that nothing will change and it will all be for the better. It seems unlikely that the current management will have much to say since they are being bought out. I hope I am wrong. I really like TOS.
OptionCoach, I hope you're right. I'm a very happy customer of TOS so far. BTW, I've read the first 200 pages of your SPX Credit Journal. I've been working on this for a couple weeks. Thanks for providing this journal. Frank
This evening, I sent TOS an e-mail inquiring about the merger, and I received a response within 30 minutes to my e-mail. After reading their responses to my questions, I am more confident than ever in TOS. I think TOS will continue being a great company and will keep on improving. Frank
First, I would guess the free seminars and such will be going away. InvesTools is not in the business of giving away education. I imagine it was quite draining on TOS' resources as well. On the bright side, TOS merged with a educator, not a broker. This may mean TOS management will still call the shots on the way the brokerage side should be run. Can you imagine if Fidelity, Scottrade, or TD Ameritrade had gotten their hands on TOS? However, I suspect the commission deals some have been getting will go away.
Yeah right, and you're posting this because.... Even if it is true and I'm not saying it isn't, there's nothing we can do about this but hope that it's not true and if turns out to be true then we'll just have to move someplace else. Btw, if this is an actual response from Tom, then don't you think you've jepardized your "special" relationship with him by posting it on a public board!?
Since late August ITools has started two types of free webinars. There is a new discount schedule out for ITools subscribers and ToS clients $1.50 contract and $7.95 per stock trade (up to 5000 shares).
presentation: http://library.corporate-ir.net/library/10/104/104432/items/212981/IEDU - TOS Deal Deck Final.pdf
I'm happy to see this thread. I've been gone a week and am stuck at the airport trying to catch a flight. Found a computer last nite and saw the info and was actually quite stunned! I've been thinking about it much of the day trying to figure out the whys. Obviously its about money. Its a business decision. I can understand why Investools may want TOS but can't see why tos would want Investools. On the other hand if a larger brokerage bought TOS then they would lose their autonomy. In some of TOS'es free seminars they even make fun of the "black box" systems. They are option traders...interested only in the greeks and vix...Investools (from my limited knowledge of it) focuses on individual stocks. I assume investools deals in probabilities based on historical info. Picked up a WSJ and they had a very interesting article on algorithem trading and how IB's etc are finding how expensive it is to maintain that type of trading. Is there any chance that they want to share their "Russian" programers? I agree that TOS doesn't market themselves in the traditional way but that is their choice, and its actually what endeared them to me. Obviously I'll give this a chance but also looking for the exits. If TOS maintains its autonomy and keeps the great customer service and platform and dosen't bombard its clients with infomercials on investools then I'll play along. and god MOMONEY are you smoking crack again!!!!! MRS Richard Rimes
thanks for the link...i still don't see synergies...I guess they think TOS customers will be somewhat hot for Investools? hummmm
hey RR, could you please cut and paste the WSJ article and PM it to me(or post it), for those of us too cheap to subscribe? And I certainly hope Momoney A.K.A. Hugh Jass is off the rock. If he's not, he's certainly keeping this site edgy!