I think it means we'll soon be getting a rash of "do moving average crossover systems work well?" and "what's a profitable method I can trade today?" and "what are some hot stock picks you guys have?" type of newbie posts
is this really true: at the height of the bubble there were less than 10k retail/prop traders? now only around 3-4k ??? jesus, that is small!
NO they're NOT baaaaaack! The promoters, scamsters and brokers all WISH they would be back and are doing everything they can to bring them back. This bullshit article is another way to try and get the fools into the game again.
"...On a recent Friday evening, Peter was one of about 20 people attending a seminar hosted by Pristine.com, a day-trader training firm in White Plains, N.Y. "Everyone has horror stories," says Peter, 51, scanning the hotel meeting room. "Thatâs why theyâre here." Lou M., who has been trading full-time since being laid off from his job in the grocery business, says he made -- "and quickly lost" -- a couple of million dollars trading stocks. But, like Peter, he hasnât soured on trading. "Iâve always loved doing it," says Lou, who, like Peter, asks that his last name not be used...." Uh oh, Pristine - LOL Say buhbybye to your $.
It's not so much the return of the daytraders, but the return of complete disregard for what a company might be worth that is amazing. Of course, the endgame will be the same.
LOL, Most of the article was nonsense. A few good points were made however. I still laugh at these mainstream day trader articles though. The author barely knows what he/she is talking about in every one of these.
"His profit after commissions is $4,700 -- not a great performance, but itâs not bad considering that the Dow closes down and the Nasdaq is barely in the black." Did I read that right? $4,700 with razor thin, 1 penny spreads, and 2004ish volatility is "not a great performance?" How many laymen are making that type of scratch? This author's desperately trying to discourage active trading.