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

To: LPS5 who wrote (12252)	3/10/2001 4:37:58 AM
From: Apakhabar	Read Replies (1) \| Respond to of 18137

Hi LPS5, Thanks for your recent contributions here, they've been terrific. Regarding price discrimination I'm reminded of a former customer of mine when I was a bartender. This guy was a forty-year-old paper boy, and he made something like $800 week, which was big money to him. The thing he discovered was the newspaper did not have any restriction on what he could charge for delivery. As long as the paper got it's percentage from the the price, the carrier was free to pocket the difference no matter what that was. Virtually all the carriers were unaware of this, probably because so many newspapers claim "free delivery." This guy I knew charged an additional three bucks a week and put that money in his pocket. When some people complained he pointed out that he never missed a delivery and his papers always came neatly folded, dry, and on the doorstep. He lost a few customers but, working in an upscale neighborhood, he generally got what he asked for. The market operated freely. And being a fan of freedom.... While I am sympathetic to the broker-dealers needing protection against customers recklessly blowing out their margin accounts and owing the firm money, I find it wholly wrong for the government to impose sanctions against individuals purportedly for their own good. If somebody wants to daytrade with ten grand that's their business just the same if that person wants to go to Vegas and put it all on the red. The brokers have plenty of protection as it is, by selling out customers positions if their equity falls below a certain point, and by making certain stocks non-marginable. It's weird to me that our elected leaders and government appointees are so concerned about daytraders. Most daytraders are dreamers... so what? What's next, people aren't allowed to try to be actors unless they've got at least six months of living expenses saved up?