No, when daytraders leave in droves, and thereby take their LONG AND SHORT positions with them, then liquidity will dry up. And the fact is, no daytrader can make a stock go where it wasn't gonna go anyhow. The company has fundamentals, and the institutions, funds, and specialist determine the direction. Daytraders just try to ride the wave. Nothing unreasonable about that. But now the sec will have lower revenue from taxing daytraders, which will mean they'll have to raise the sec fee as liquidity goes down. How rediculous. They just want to pretend as though they're doing something significant, since the sec didn't do a damn thing all this time on all the criminal accounting, reporting, late trading, and much more that's been right in front of their face.
Now, whats the penalty if you are caught, and how do they propose to catch someone using a conversion? Or is it the honor system?
What will happen to all the daytraders that step in front of market shorts? This was the main strategy at some of the prop shops I've seen.
no question this will seriously put crimp in this strategy,, also looks like the party is over for many news plays
not a good idea to try and "get away with it"....it's a done deal...time to figure out how to trade without it.
1. What exactly am I supposed to do with your warning, can I trade it. 2. The SEC doesn't oversee or administrate the eminis.
Look on the bright side, maybe a legitimate short at a decent price will be easier to get , now that you dont have the props porking the bid en masse. Then again, maybe not.