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these guys plus the ad about the soccer mom who trades off laptop and
kitchen table with ts will eventually get killed; maybe not by a 1987
style correction (been there, traded that too), but by a wide, choppy
trading range lasting for years (and the day traders will have to deal
the fractal of that as well).
i hope more people quit their jobs and day trade; we can always use
their liquidty for our accounts <g>
TJ
too many media mania mavens to worry about tulips just yet :))
---Ramin Zahraie <ramz1@xxxxxxxxxxx> wrote:
>
> As I was reading Felix and et. al.'s comments on day trading, CBS
> Evening News broadcasted a report on this topic. It's part of the
series
> of reports on the Internet titled 'The Money Net'. Here are some of
the
> key points of this report:
>
> * There are 15000 'hard core' stock day traders.
> * 5 Million Americans trade or day trade stocks part time.
> * 30% of the volume of Internet stocks is being traded by day traders.
> * Two gentlemen were featured on this report: 1) A police officer who
> day trades when he is off duty. 2) An ex Harley Davidson salesman who
> previously had no experience in equities or investing what so ever,
now
> day trades full time. In fact in one day, this man has made $13,000
with
> his trades.
>
> * The report showed a trading room somewhere in the US. The day
traders
> seemed to belong to a cross section of 'average America'. Some seemed
> to be house wives who were trading when the kids were at school. Some
> seemed to be retirees and others seemed to be 'your average Joes'.
>
> The report concluded with the following paraphrase: Wall Street is
> worried about the number of amateur day traders in America today.
>
> Tullips anyone? :-)))
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