SCHW - Corruption play following Michael McCaul (R - TX) purchase

STOCK Act disclosures reveal House Rep Michael McCaul purchased $SCHW in two blocks, both in the amount of $50,000-100,000 on April 21, 2023 with an average entry price of $53.80. Today, the stock is at $54.28. There’s evidence he also encouraged family members to do the same.

The thesis is that politicians have access to non-public, material information and/or are able to engage the services of top-tier equity fund managers. There is no federal law restricting the trades of congressmen. Conflicts of interest do not currently apply.

Be aware this is just a theory. Transaction reporting is often delayed by 45 days (or more). Market headwinds can take this another direction.

I will post more updates as I receive them. Originally, I called this out following the $52.25 break. That was re-tested and it popped this AM. Based on technicals, this can run to $56 (and possibly $60) if it breaks $54.50. Be cautious and watch for good entries.

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Also evidence whales buying in on or about 5/22 and 5/31:image

There’s evidence he also encouraged family members to do the same.

Where did this part come from?

Please see the attached disclosure schedule. If you look in the leftmost column, there are three codes: JT for spouse, DC for dependent child, and SP for spouse.8219522.pdf (209.733 KB)

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Combing through the purchases and sales, that’s a Spouse purchase 15-50kimage

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Interesting, thank you for this.

There’s a mix of sales and purchases there. I’ll have to comb through line by line and net it out. Rather than relying on capital trades, I suppose

Looks like Rick Allen’s (R-GA) Spouse also picked up between 15-50k of SCHW at an average price of 24.66. I may have to put together a corruption portfolio since these are longer term playsimage

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SCHW hasn’t been below 40?

His spouse bought preferred stock, so probably that caused an API error for the secondary source:image

I’ll have to check the primary sources on these. Here’s the original filing:20022986.pdf (69.003 KB)

$SCHW just hit $56. Hopefully some of you got a slice of the action


Good shit homie

$SCHW continues to outperform the market and hit $60.50 in today’s premarket. My price target is $69.420

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Closed this position today at 68.12. Could go either way from here.image

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