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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Justin C who wrote (2304)	2/24/1999 9:55:00 AM
From: Gary M. Reed	Read Replies (1) \| Respond to of 17683

Appears that the daytrading bash-fest is picking up steam. Anyone see that goof Rep. Ron Klink this a.m. on CNBC? In typical Democrat fashion, Rep. Klink wants to "protect us from ourselves" by proposing legislation to curb daytrading. Yep, typical party-line out of Washington: "if people are making money on something, we obviously need to regulate it." You know, last time I checked, Oslama Bin-Laden, Saddam Hussein and Qadafi are still running free, taxes are still too high and public education is still a wreck, yet Rep. Klink's agenda says daytrading is a more dangerous looming entity than any of the aforementioned items. Of course, if history is any predictor of the future, it is only a matter of time before "Bandwagon Bill" Clinton, after putting his wetted finger in the air, declares a full-scale war against that American scourge of humanity and freedom otherwise known as daytrading. On a related note, I had to laugh when CNBC featured that 24 year old kid who was "addicted" to daytrading. The guy says, "I lost $2,000 and it felt like a knife going into my stomach." CNBC misdiagnosed this guy's ailment. He isn't addicted to daytrading, but merely suffering from a severe case of "piker-itis." Brother, if you can't swallow a $2000 hit, you don't have any business in investments--daytrading or long term. Period. I can't wait to see the hype on next week's continuing feature on daytrading entitled "Daydreaming." The title alone tells me we are in for a very slanted view. Meanwhile, 2 out of every 3 commercials on CNBC are for online brokerages or online quote services--go figure.