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Actually, their biggest concern is personnel. Salaries and benefits are far
and away the biggest costs brokerages have. They are currently looking at
having to hire and train 20-30% more staff to handle extended hours. And
they don't want to do this because they believe that the light volume in the
evening will keep the venture from being profitable.
Stand by for WIDE evening spreads...
The Omega Man
----- Original Message -----
From: Gerrit Jacobsen <jrt@xxxxxxxxxx>
To: Omega List <omega-list@xxxxxxxxxx>
Sent: Thursday, June 03, 1999 4:44 AM
Subject: Re: CALLING ALL CONTRARIANS...
> This whole discussion regarding night trading sounds to me as if the
> brokers are worried that their commissions are going down.
>
> Gerrit Jacobsen
>
> > :Perhaps you missed the cover of June's Wired Magazine, touting their
Wired
> > :Index, up 81% and a sub head, Inside: Your guide to exploding wealth?
With
> > a
> > :big up pointing arrow on the cover.
> >
> >
> > :Ok you contrarian devils... Ponder this: When day trading is featured
on
> > :the cover of Playboy magazine with the caption "How to Get Rich If You
Have
> > :the Balls for It", does that mean that the bull market is over?
> >
> >
> > hey, I forgot some things:
> >
> > MerriLl Lynch starting an internet brokerage service, the NYSE and
Nasdaq
> > planning evening sessions for internet Mom and Pop traders and the
> > proliferation of internet trading commercials on TV.
> >
> >
>
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