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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Dan Duchardt who wrote (5511)	11/19/1999 2:07:00 AM
From: -	Read Replies (4) of 18137

Does someone have access to the Wall Street Journal on-line? Yesterday's (Nov 18, pg C1) article on Harbor Securities LLC should be posted on this thread. The lesson: don't put your money in an LLC trading firm, unless you want ever other trader there, essentially "trading your account" with up to 10:1 margin in some cases. Looks like a solid article to me. Of course, the SEC could be out looking for a "poster child" daytrading firm to make an example of... but it does sound like Harbor was running upside down and reckless, big-time; e.g. one of their traders short 100,000 BVSN leveraged 10:1 and wrong. Their founder/Pres., described as a former AMEX option pit trader, was reportedly one of the well-attended lecturers at the Ontario Expo. -Steve

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