Online broker E*Trade (Nasdaq: EGRP) is celebrating Dow 10,000 by thanking its customers. Today, all trades of the Dow 30 stocks on E*Trade are commission-free. This may seem like a gimmick, but E*Trade is really letting traders go wild today, if they are so inclined. The offer allows up to 100 trades, with no limit on shares.
You can argue that all this really does is promote irresponsible trading, which it may do to a small degree, but E*Trade’s move is simply an appropriate show of support for all the day traders who have helped the Dow reach such a lofty height. Love them or hate them, the day traders are a big reason why the market is as high as it is.