# TD dips 3% today.



## VLT (Jan 1, 2017)

TD is nose-diving today.
More news on high pressure to bank employees up-selling quotas. They are admitting to breaking the law by increasing customer lines of credit, overdraft protection, and credit card limits without telling them.


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## Nerd Investor (Nov 3, 2015)

They're also the only major player I know of who didn't mean the required timeline for issuing CRM2 reports. Not sure if that is playing into any of the price movement at all but I have to think there will be consequences for that.


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## GreatLaker (Mar 23, 2014)

Nerd Investor said:


> They're also the only major player I know of who didn't mean the required timeline for issuing CRM2 reports. Not sure if that is playing into any of the price movement at all but I have to think there will be consequences for that.


According to the IFIC the deadline for account level performance reporting and reporting on charges & compensation is July 14, 2017.


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## redsgomarching (Mar 6, 2016)

These practices are happening at the big banks. Every single one of them do it but they are literally fundamental to our capital markets system that most likely nothing will change unless the mentalities shift.

I just hate how these poor tellers and front line staff get shafted making barely enough to cover their expenses so senior management and executives can pocket millions. 

I am truly annoyed at this also because I bought in before earnings update which was stellar and now have a loss. This definitely may seem like a good entry point to get in.


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## VLT (Jan 1, 2017)

Yes, TD will be dragged through the mud. CBC is giving anonymity and so I wonder if the story will spread to the other banks.
I feel sorry for the front line staff too.


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## gibor365 (Apr 1, 2011)

Down 4.5% ... anybody buying?


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## Argonaut (Dec 7, 2010)

Been watching it all morning, the thing is dropping like a rock. No buying support.


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## jumbalaya123 (Feb 20, 2017)

bought at 66.28


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## thepitchedlinkagain (Jul 4, 2016)

watching and waiting........


Put a buy order in at 65.70......lets see what happens


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## gibor365 (Apr 1, 2011)

Argonaut said:


> Been watching it all morning, the thing is dropping like a rock. No buying support.


Wasn't similar (but more severe story) with Wells Fargo?! It dropped several days, and after shot 40% up in several months


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## nortel'd (Mar 20, 2012)

I bought in at 68 before ...
EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against The Toronto-Dominion Bank - TD

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of The Toronto-Dominion Bank (NYSE:TD) resulting from allegations that TD Bank may have issued materially misleading business information to the investing public.


Then at 66.40 just as ....


SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of The Toronto-Dominion Bank (TD)

The investigation concerns whether TD and certain of its officers and/or directors have issued materially misleading business information to the investing public.


I guess it is time to sit back and wait.


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## bds (Aug 13, 2013)

I'm amazing that this is news to anyone. I left them a while back because of their pushy tactics and high fees over the years. As a customer I hate them, as an investor I love them.

My $66 stink bid is getting close now.


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## Argonaut (Dec 7, 2010)

Sold at 66.22 for the same price as end of year 2016. Locking in my nice 2016 gains in TD. Want to be out now as the bad news keeps piling up. I'm sure it happens at all the banks, but TD is taking the credibility hit for all of them, as did Wells Fargo.

Buying a relatively smaller portion of BNS to replace. Lowers my overall bank exposure and builds up some cash.


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## VLT (Jan 1, 2017)

No more TD Argo? Hmm, I would have thought this a buying opportunity with TD and RY having the largest USA component. 

You're right about things piling on though. I just found this.

Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of The Toronto-Dominion Bank ("TD" or the "Company") (NYSE: TD). 

The investigation concerns whether TD and certain of its officers and/or directors have issued materially misleading business information to the investing public.


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## Argonaut (Dec 7, 2010)

The truth is, a bank is a bank for the most part. I switch from BNS to TD in January 2015, and since then TD is beating BNS by only a percent or two, including today's drop. Now I'm back to BNS because I know all this news about TD is true, and the journalists are going to keep hammering them. As much as it is probably true at the other banks, TD is taking the blame.

In reality my decisions on sectors end up being more important than the stocks within them. Really it's more of a move to lighten my bank exposure, which had become my highest weighted sector over the last couple of years. Bought less of BNS than I had of TD.


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## Bury (Mar 10, 2017)

*TD Monday blues?*

Hey everybody, i'm new here, not so new to the game...
Curious to hear your wise guesses as to what might happen at the open on Monday,
and what could be the better way to play it considering I do want to get more TD
shares at 64 - 65 or cheaper. I would hesitate to pre -order before the open ,
mostly because i do not know how the open is set , maybe one of you pros 
know the mechanics of it, would like to get your take on this as I don't have 
a clue... Bury


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## jargey3000 (Jan 25, 2011)

bds said:


> I'm amazing that this is news to anyone. I left them a while back because of their pushy tactics and high fees over the years. As a customer I hate them, as an investor I love them.
> 
> My $66 stink bid is getting close now.


I guess the stink bid got filled? 
Question now is- where does price go from here?


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## leeder (Jan 28, 2012)

TD isn't a screaming buy to me even with this temporary and extraordinary dip. It was trading at its high end of the valuation range. It's only slightly less expensive now. If I had to predict, it'll bounce back to about $68 next week. It might react positively to the fed rate hike.


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## VLT (Jan 1, 2017)

Bury said:


> Hey everybody, i'm new here, not so new to the game...
> Curious to hear your wise guesses as to what might happen at the open on Monday,
> and what could be the better way to play it considering I do want to get more TD
> shares at 64 - 65 or cheaper. I would hesitate to pre -order before the open ,
> ...


I'm not a pro but I would watch it on Monday and never pre-order. It's risky because there can be big swings at the beginning and end of the trading day.


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## yyz (Aug 11, 2013)

The class action lawsuits are just mainly noise.

My wife's company released results at the end of Feb and they have a whole slew of lawyers clambering after them for not disclosing information that caused the share price to fall.In fact one listed above is the same one chasing her company amongst others.
They are the ambulance chasers they are just trying to sign up clients to take part.It's normal ,I wouldn't lose sleep over the lawsuits.


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## gibor365 (Apr 1, 2011)

VLT said:


> I'm not a pro but I would watch it on Monday and never pre-order. It's risky because there can be big swings at the beginning and end of the trading day.


Agreed . Will watch it on Monday... may add to my existing position


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## Eder (Feb 16, 2011)

A guy much smarter than me told me to wait at least 2 weeks after the **** hits the fan before deciding on an investment...I think it is good advise in TD's case.


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## MrsPartridge (May 15, 2016)

TD is doing the same as Wells Fargo. Every time I was in there for some business, the tellers would look at my account and remind me that I still don't have a TD credit card. (Ok, they were begging me to sign up). I said no every time. Well, wouldn't you know it.... they sent me a card a few months ago. It's in a drawer.


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## doctrine (Sep 30, 2011)

My take: it's nice to see a correction, but TD was already the most expensive bank stock. It might not be a bad point to enter, trading down about 7.5% from the all time high. 

However, it is a long way from the 200 day moving average of $61.56. That usually signals a better buying opportunity for the big banks; they normally trade at or below the 200 day moving average at least once a year, if not many times a year. It looks to me like TD has traded at that level one or more often every year for 11 consecutive years dating back to 2006, but it has not yet happened this year. And if you didn't buy the last time it happened in 2005, you only had to wait about 4-5 months before you saw the next good buying opportunity where it traded below where it averaged the year before.


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## kcowan (Jul 1, 2010)

I plan to add on Monday or when it meets my price. Long term the banks are gold.


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## VLT (Jan 1, 2017)

doctrine said:


> My take: it's nice to see a correction, but TD was already the most expensive bank stock. It might not be a bad point to enter, trading down about 7.5% from the all time high.
> 
> However, it is a long way from the 200 day moving average of $61.56. That usually signals a better buying opportunity for the big banks; they normally trade at or below the 200 day moving average at least once a year, if not many times a year. It looks to me like TD has traded at that level one or more often every year for 11 consecutive years dating back to 2006, but it has not yet happened this year. And if you didn't buy the last time it happened in 2005, you only had to wait about 4-5 months before you saw the next good buying opportunity where it traded below where it averaged the year before.


Thank's for the perspective Doctrine. I took a nibble at yesterdays close at -5.5% for the day. I'm conflicted because the rising US interest rates said to be a boost for banks. 
Do you generally wait for stocks to meet or cross the 200 day moving average?


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## doctrine (Sep 30, 2011)

VLT said:


> Thank's for the perspective Doctrine. I took a nibble at yesterdays close at -5.5% for the day. I'm conflicted because the rising US interest rates said to be a boost for banks.
> Do you generally wait for stocks to meet or cross the 200 day moving average?


I don't follow a strict technical analysis, but I do tend to be a value investor. And when the banks are below the 200 day, it is usually a value that I cannot resist. I was last buying banks from Dec 15 to Feb 16, kind of been enjoying the ride since then. TD remains too expensive for me but I would probably consider NA or CM today.


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## Bury (Mar 10, 2017)

VLT said:


> I'm not a pro but I would watch it on Monday and never pre-order. It's risky because there can be big swings at the beginning and end of the trading day.


You are right VLT and it is risky, and it would be prudent to sit back and watch, but since I wanted to buy few more TD's anyway 
I was pondering why not get some excitement into it , maybe taking advantage of big swings by betting say 100 stocks on very low price
say $64 by sending an order before the open. But I'm afraid I'll have to find excitement somewhere else: I've looked up TSX site and
that's what they say about the setting of the opening price:
TIME (ET) SESSION
7:00 AM – 9:30 AM Pre Open – Orders may be entered, but will not be executed. The calculated opening price is displayed and
continuously updated.
Which I think mean they try to tame the big swings and get a more balanced open - which mean I will have to wait for the delay open prices 
and than place my bet - which I agree is definitely safer.


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## Mookie (Feb 29, 2012)

Picked up 400 shares of TD this morning at $66.93. A little higher price than I was hoping for but still a good discount on last week's high point. We'll see what hindsight says about it later. Planning to hold for the long term anyway.


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## bds (Aug 13, 2013)

jargey3000 said:


> I guess the stink bid got filled?
> Question now is- where does price go from here?


It did! Only a small addition to my existing position. I won't be selling any time soon, so it doesn't really matter which way it goes right now. Either way it'll be good in the long term.


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## VLT (Jan 1, 2017)

This news story has spread to all the Canadian banks. A relief for TD and not a surprise.


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## Argonaut (Dec 7, 2010)

I agree, not a surprise. Same at all the banks. In a way though I think it lessens the potential impact and weakens the story. Instead of TD being the boogeyman, the blame dilutes to everyone and perhaps a collective "meh" will be uttered by the people. Perhaps not. As far as I know Wells Fargo was the only one hit with the story down south and it didn't spread to the other US banks. We'll see what happens.


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## Eder (Feb 16, 2011)

Banks have had a huge run...any story was good to knock 10% off.


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