TD Ameritrade CEO: A Correction In The Markets Here Wouldn't Surprise Me

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Even though the S&P 500 is flat for the year, most investors are just happy with the fact that at least the market isn’t correcting vigorously after a 6 year bull run. However, TD Ameritrade Holding Corp. AMTD CEO, Fredric Tomczyk, feels he wouldn’t be surprised if a correction starts now. Tomczyk was on CNBC Thursday to explain why he thinks so.

 

Login Data

 

Tomczyk was asked what is he able to assess when he looks at the data on how many times TD Ameritrade’s customers have logged into their accounts. He replied, “Well that tells us, I mean you know just because they are buying a stock doesn’t mean they are necessarily engaged. If they are logging in regularly that’s usually good indication that people are very engaged in the markets and watching their investments closely.”

 

Correction Won’t Surprise


On whether clients logging in frequently is a counter-intuitive sign that a top is near, Tomczyk said, “I wouldn’t be surprised if we have a correction here. I think we have had six, six and a half years of up markets here. Although the markets are relatively flattish this year, but sooner, we have never had 7 years of up markets. So, it wouldn’t be surprise here to me at all that we see a correction.”


What Are Investors Buying?


“It’s mainly U.S. stocks right now,” Tomczyk said. “And Apple is our […] most widely held stock, has been for a long time by most widely traded stock, but they are also into Exxon, U.S. oil right now, Bank of America those type of stocks.”

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Posted In: CNBCMedia
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