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On Tue, 24 Nov 1998, alan myers wrote:
> As daytrading becomes more and more popular (people who know little
> about it and have no interest in trading have even heard the term and
> asked me about it) should a person take the tennis approach and hit the
> ball to where they *aren't*?
>
> In other words, will the growing popularity of daytrading cause most
> markets to become chaotically untradeable? If so, "position" yourself.
I don't like to rain on other people's parades, but I always get a sick
feeling when I see a good thing lowered to the level of the dumb clueless
retail investor. Bad enough that the public is being sold on trading
futures from their kitchen tables and sure thing options strategies but
now the public is being told that they can make a mint by day trading.
It makes me ill watching some of these sleazy come-ons depicting "just
common people" discussing their profits all thanks to some "stock split"
service. "Now I won't trade without it." Gag.
And of course they'll be sold expensive subscriptions to data,
newsletters, tools, seminars, etc, etc a' la Wade Cook (wretch). Rather
than fostering self-reliance, the public will be roped in and have their
lifeblood syphoned off into someone else's wallet.
But I wouldn't worry too much about markets becoming untradable. This is
just another fad that will pass and I think it unlikely that the
nickle-dime retail market can make that much of an impact...
Of course... I could be wrong...
- Hacker
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Dark Hacker | Fortress Of Computation
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