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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: SpongeBrain who wrote (230)	1/18/1999 7:56:00 PM
From: SpongeBrain	Read Replies (1) \| Respond to of 611

Here's what scalping daytraders do all day (and so can a 3rd grader) This is what I've read: ..."company Excite, opened at around $50 per share. After a few minutes of trading it pulled back so that its bid was 49 3/8 and its offer was 49 3/4, a 3/8 spread. Taking advantage of the wide spread between bid and offer, he bid 49 7/16 for 1,000 sharesa 16th over the best marketmaker bid. Having topped the marketmakers' bid, Milman got first in line to execute an order at market. The first 1,000 shares for sale at market went to him at 49 7/16. Almost immediately he offered to sell for 49 11/16—still lower than the asked price posted by the big marketmakers. Milman guessed right, and the stock was taken off his hands in just 12 seconds. In a few strokes of the keyboard he netted $210 and cut the spread by 1/8 of a point. " People make massive incomes doing this, and playing THIS short term is analgous to playing video games, IMHO. No emotion, no research, no finance knowledge, no nothing! Just find a spread an cut into it! I can train my retarded chimp to do this, but I think he he's busy running a few mutual funds on his spare time. I'm off to buy him some new darts and some rabies shots, bye!

To: SpongeBrain who wrote (230)	1/18/1999 8:41:00 PM
From: Ron McKinnon	Read Replies (2) \| Respond to of 611

>>>> People make a 7 figure income doing this, and playing THIS short term is analgous to playing video games, IMHO. No emotion, no research, no finance knowledge, no nothing! Just find a spread an cut into it! if you beleive this do two things 1 keep your day job 2 buy this bridge I have for sale

To: SpongeBrain who wrote (230)	1/18/1999 8:52:00 PM
From: Moominoid	Read Replies (1) \| Respond to of 611

If this was so reliable all the big brokerage houses would have automatic computer systems trained to do it. Do they? David

To: SpongeBrain who wrote (230)	1/18/1999 10:37:00 PM
From: Wayners	Respond to of 611

That retarded chimp can buy a lot of bananas. Doesn't matter to me if I make $1M a year scalping or using a scalpel. Its all about making money IMO---nothing else. Its not about being smart or showing others how smart you were--like hey although we made the same amount of money I'm better than you because I picked the top on AMZN and you didn't. Who cares. All that matters is how much money you made---not how you made it.

To: SpongeBrain who wrote (230)	1/20/1999 1:48:00 AM
From: peter gucker	Read Replies (1) \| Respond to of 611

I can train my retarded chimp to do this, <<<<<I agree ,however the retarded chimp better have hands quicker then a pick pocket in times square on new years.

To: SpongeBrain who wrote (230)	1/21/1999 9:43:00 PM
From: jebj	Respond to of 611

>A scalping daytrader does this all day long, and so can a 3rd grader: - SB DAYTRADER - seems this term as come to mean almost anyone that trades stock, options, funds - anything - and is not doing it LONG TERM! I submit that the example you have used - although not just trying to get inside the spread, that is just one play - is what the term "daytrader" is suppose to mean and, after doing this all day, he closes everything out before market close and goes home. No problems sleeping! :) jb