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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Paul Viapiano who wrote (2609)	8/10/1999 2:51:00 AM
From: -	Respond to of 18137

Yes, Paul regarding your last point, I agree the situation is barely making it presence known here... just trying to figure out whether it's going to take us down 500+ points in the Dow... which it could easily do! But I agree that is where it's at, a "whisp" of a problem. I think if the Fed raises only 25 basis points, that's basically neutral and good for a couple of hundred points downside in the Dow. 50 basis points could throw us into a tizzy though, we're still 300 Dow points above the next major support level that I'd worry about as a long. The danger is compounded because of negative seasonality -- most of Wall Street is in low-intensity mode this time of year, or (literally) on vacation. I wouldn't rule out a good rally, though. The Futures are up 2.5 pts six hours before Tuesday's open, pointing at a strong open, for what that's worth (that and a five will get you a Latte at Starbucks). I don't try to "predict" the market, just try to become aware of major risk factors. What happens, depends on the Fed, and the economic releases... =========== The latest on CNBC, Midnight California time: I am watching the replays of Hildreth, our new "U.S. day-trading-regulator" this evening on CNBC, this is what he just said: "The problem is, Daytrading isn't investing, it is Gambling. There is no other way to describe it". And, "Anyone out there considering Day Trading, I would say STOP" They can sure distort things on TV! Shouldn't something be done to dispute this? Or is it better just to let them scare people off. Obviously, this guy is boosting his political career by exploiting the tradegy in Atlanta. He should be ashamed of himself! ====== Heraldo's show on CNBC is covering it now: "Day Trading - can anyone get rich quick?" "...5 million persons trade on-line from home. Perhaps 20,000 trade full-time from home, and the perception is they are making a lot of money. Lawrence Black is being interviewed, he has made $1M in a year, and has "turned over $4.5 Billion in stock" (wow)... Mark Haines is his favorite CNBC anchor (double-wow). Heraldo's partner, quite the fox, asked him as her parting question whether he is single or not ;) Now SHE is impressive <G> Todd Hawley, author of daytrading on-line: "Most people have a much better chance in a casino, than daytrading" (probably true). He did a decent job of describing how "anyone with $50,000 can go in and have access to market with the same equipment that Wall St. professionals can have". At least they presented a somewhat balanced cast of characters.