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Politics : America Under Siege: The End of Innocence -- Ignore unavailable to you. Want to Upgrade?

To: Qone0 who wrote (5562)	9/30/2001 11:53:44 AM
From: Bilow	Read Replies (1) \| Respond to of 27724

Hi Robert Warren; Re: "Short selling has the effect of transfering wealth from long term investors to traders. I see you agree." No, I was stating that short selling has the effect of decreasing the amount of wealth transferred to traders (by decreasing the spread) on a per trade basis. Without short selling, you will see much wider spreads. That will eliminate (or reduce) a whole class of mid term traders, the ones who rely on market orders. Re: "Daytraders are the ones looking at intraday charts and L2 screens that are stacking up at resistance and support levels." You're painting daytraders with a very broad brush here. I've known plenty of daytraders that were highly successful but never looked at an intraday chart. They traded completely off of level-2. Another group trade by watching the S&P500 futures, some of them also ignore the intraday charts. And there's another group of daytraders that trade baskets of stocks, they ignore intraday charts (of individual stocks) as well. But the most important group of daytraders you're ignoring are the scalpers, many of who don't use any charts whatsoever. Where's your reply to my note that the short interest in CSCO only amounts to a tiny percentage of the float? Where's your reply to my comments on options? Do you think that market makers for options shouldn't be able to hedge puts and calls? Do you think that options should be disallowed? Do you agree that eliminating short sales will make the options markets have wider spreads? -- Carl