Peter, I completely agree with you that daytrading is usually very hazardous to your wealth--I know that when I did a somewhat less-frequent version of it I lost tens of thousands of dollars (however, some people are more successful with it, I'm sure).
The impulse to trade, and the "high" that people get from it, though, is a fact, and one that will continue to drive the online stock companies ever forward (at least ones with great brands like E*Trade). That, coupled with the truly excellent savings that one gets when one trades with an online broker (relative to trading with a traditional broker), is why this stock makes an excellent investment. You may well be right about a fade in the short term (although you may well be wrong, too), but since I am now an investor rather than a trader (having wised up), I'm mostly indifferent. In my zen-like state of buying and holding, I mostly watch these threads as a hobby (although if I read something horrific about a company I'd bail in no time).
Question: if you believe that trading is hazardous to ones wealth, why are you concentrating on the short-term moves of EGRP? Doesn't that represent a hazard to your wealth? |
