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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (86935)12/15/2000 3:24:21 PM
From: Tommaso  Read Replies (2) of 132070
 
MB,

You know, I have been accepting the conventional wisdom for years that in-and-out trading can't make money.

But I wonder if this got rooted back when it could scost you a commission of $150 (I think) just to buy 100 shares of a $50 stock. I remember buying convertible bonds with Merrill Lynch because the commission was only $2.50 per bond.

But with round-trip trades at under $30 with a high-quality discount broker, I think it's a little different.

Well, am I heading down the road to perdition? I find that shorting and covering market index stocks brings in as much as a pretty good poker game. The governing assumption is that stocks in general are terribly overpriced.

I'm not talking about getting rich, but you know if you can rake off $200 a day that's not a bad income supplement.

Of course I could also take up mugging old ladies.
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