Investors in Schwab and other brokerage stocks will have to wait for better times.

Sure enough, investors knocked down brokerage stocks on the news.

Still, this is an ending that will certainly not help anyone who owns brokerage stocks.

Q. At this point, is there an argument for owning brokerage stocks?

Other brokerage stocks also reached their highs for the year on June 21, 1983.

The growing caution about brokerage stocks appears to be well founded.

"I think the brokerage stocks are cheap today," he commented.

Q. You've also got a lot of money in brokerage stocks.

This message is being sent clearly by the stock market, where brokerage stocks have been hammered over the last month.

And the rising rates probably did not help brokerage stocks.