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Technology Stocks : Dell Technologies Inc.
DELL 125.65+2.6%1:35 PM EST
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To: arthur pritchard who wrote (110961)3/23/1999 9:52:00 AM
From: Jock Hutchinson  Read Replies (3) of 176387
 
Arthur: I have been paying considerable attention to your posts, and when I went to your profile, I discovered that you have a new found love for day trading. Accordingly, let me illustrate the dangers of day trading by referring to a true story from Mr. Soros who had an associate who began to day trade. The man went broke from his trading in a short period of time. Deeply discouraged, but trying to devine just where he had gone wrong, the man went back and analyzed his trades. What he found was truly sad. He discovered that if he had reversed every one of his trades, (i.e. bought when he had sold, and sold when he had bought) he still would have gone broke. The commissions, spread, and margins expenses ate him up. You just might want to think about that some time. Day trading is an extremely subtle game that takes an enormous amount of discipline and more than a little bit of talent. If you have neither in sufficient quantities, you will end up like the newly arrived Pigman, who is a previous era would have been known as both a tout and a stooper at racetracks. A tout is someone who would offer his opinions to his fellow horse players for a price--always referring to great successes from the immediate past--pet always unable to duplicate his alleged successes. A stooper was a person who would "stoop" down and sort through thousands of tickets on the ground in hopes of finding that one winning two dollar show ticket that had been discarded by some unfortunate bettor.

Good Luck

JH
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