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Saw Levitt interviewed on CNBC about this subject and the guy was IMHO an
idiot. His big tip to the novice trader was enter your orders as limited
orders when buying and selling stocks.
Please I don't know how this guy got to be where he is but he has no clue
when it comes to trading. He embarrassed himself on TV I felt sorry for him
it was pitiful.
Robert
Mark Jurik wrote:
>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
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