Let the newspapers and websites continue to say we are losers... there will be less competition... the less competition the better... let's keep this little world to ourselves...
Apparently the author doesn't know what shorting is.As long as there is volatility,who the hell cares which way the market moves,as long as it moves one way or the other.I spit on idiots who only think that bull markets are needed for daytraders to make money.
100% wrong statement.....trillions in market value evaporate and only ones "who really got screwed" are the buy and hold, not true....I dont even need stats to back this one up....many so called traders have lost fortunes as well...A person who bought and held csco from its ipo is doing very well right about now...
I didn't mean that the traders didn't lose money, I meant that they didn't get screwed out of their money. The traders knew what risks they were taking and the did it anyway. The retail investors, after being brainwashed that the market will always pay off "in the long run" and that "buy and hold" is the only way to go, were lambs to the slaughter. I have sympathy for the elderly people who now must work at Mcdonalds after they trusted their 25 yr. old bmw driving stock broker.
Why so touchy? Do you want to make money and have respect and public adulation as well? Well go and be a missionary then. Hope this helps... "Daytrader saves the day...... Following the lots of bad things that happened today, yet another daytrader stepped up to the plate and shorted some stocks. These unselfish breed of young guns continue to provide liquidity and volume in a declining market. 'We just do our job' said Zach, 23 yr old NY based daytrader. Like his compatriots he came across as unfazed and modest. Next week we look at that selfish group of industry workers, firefighters and investigate the shocking truth that they are only in it for the money. Apparently, it is a negative sum game".
This is totally off-topic, but as an MK (missionary's kid) I find that statement hilarious as the profession includes neither money, respect, nor public adulation. A different career choice would be necessary. To get back to the matter at hand, people just need to realize that "daytraders" or anyone associated with them will be forever despised among the uneducated thanks in part to the investment bank/market maker house of spin and one lunatic daytrader in Atlanta. Trying to explain the benefits that daytraders bring to the public to someone whose mind is already made up is very difficult...perhaps a missionary could help out there though...
There are probably several thousand daytraders....and there are millions of long term investors...last year the long term investors lost anywheres from 50 to 80 percent of their portfolios...which took them ten years to accumulate and then lose it all in a couple of months....they foolishly held on to their plummeting stocks and did not have the foggiest idea as to when to get out. They are the ones with the power to drive the market up or drive it down, with their stupidity and greed. We just go along for the ride depending upon which way they decide to take it. So why don't they affix the blame where it belongs...squarely upon themselves and not us daytraders. What is really bothering these people is that they are searching for yet another scapegoat so that they can avoid the fact that they are the big losers and not us.