SEC: "day-trading is dangerous"

[Mark Jurik <mark@xxxxxxxxxxxx>]

Greetings,

SEC Chairman Arthur Levitt, alarmed by the increasing popularity of day trading, has warned investors that rapid-fire online buying and selling can be dangerous.  

In the Feb 4 edition of Business Briefs, Profnet (the service) would like opinions on the pros and cons of online day trading.  I was asked to provide the collected wisdom from traders on internet forums.

So the question is simple:  Is the chariman correct in saying that it's dangerous (as opposed to being mere risky) or is his point of view from the "Old World", like a horse and buggy owner giving his opinion of the "danger" of automobiles?

- Mark Jurik