06.04.2008 1:28 pm
Scottrade offers trading tool that tracks momentum
St. Louis Post-Dispatch
Scottrade Inc. says it is the first brokerage firm to offer a new trading tool developed by an affiliate of the Nasdaq stock exchange that tracks market momentum and helps traders identify trends.
The tool, Nasdaq Velocity and Forces, is available without charge to Scottrade customers who use its advanced platform, called Scottrade Elite.
The tool measures order activity for securities listed on three major exchanges, giving traders a ratio of buy to sell orders. It also determines trading interest and the relative buy and sell pressure on the market.
Kevin Dodson, Scottrade’s director of online financial services, said the tool gives customers an indicator that used to be available only to professionals at large brokerage firms.
