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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Steven Ivanyi who wrote (3332)8/28/1999 1:53:00 AM
From: Steven Ivanyi  Read Replies (1) of 18137
 
The writer of that article on short trading is a pawn of the securities industry in my mind. The securities industry through it's market makers and specialists would love to keep short trading to themselves because it's a very lucrative side of the trading business. With daytraders, who have incidently become maket makers in a sense, the rules of the game have changed. The trading public ie daytraders are enjoying the same benefits as these market makers and the securities industry is pissed off.

I remember when I first took the course to become a securities broker, short trading was frowned upon as dangerous and best left to very well heeled professional people because how high a stock can go is infinite. You see, the securities industry even to new brokers and the investing public has painted this almost un-American thing about short trading. Yet, they were the main beneficiaries of the practice for years and years. I love it when they open a stock way too high for no reason at all and I go in a short right along with them. The general Mr. Joe investing public is screwed all the time because he just phones his order in before he goes to work to buy at market when the maket open because he hot on a stock. As daytraders you become one of them - the market makers and specialists - by knowing what they do and just following along and making money. And they are pissed off and get people like this Gretchen to write these stupid articles.

Steven
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