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Strategies & Market Trends : Options
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To: PAL who wrote (7920)6/2/2000 11:57:00 AM
From: Bridge Player  Read Replies (1) of 8096
 
<< Don?t be mislead by the pundits, day trading is a great business
so long as the market goes up. Think about it, you buy stock with
other people?s money on margin, continue to leverage your stock
position and so long as the market cooperates by moving
upward, you can become a wealthy individual using other
people?s money.

This dream job, however, becomes a nightmare when the market
makes a dramatic movement downward for a few consecutive
sessions. All of a sudden you face a margin call for cash that you
don?t have, so you are forced to sell your stock in a falling market. >>

I strongly disagree with this analysis. IMO day traders are momentum players, who in most cases are just as comfortable short as long, and who usually want to be neutral at endofday. I don't believe that it was the day traders who were hurt by the NASDAQ 35% drop.

BP
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