that is the spread on scottrade. imo, the float is getting less and less. time to buy a little maybe but certainly not the time to daytrade if you are long. if you are long just turn off the computer and walk away. check back in dec. and you will be one happy camper. jmho-bucko
Most of what I read from you is interesting and worth the read, you are way off base by using the broad statement that daytrading is the business of morons. I agree that daytrading is not for everyone, ESPECIALLY rookies. Most lose money because of inexperience. I hold a core position and usually make 2 - 5 daytrades a day. I trade while I work so patience is not a problem, I watch for big drops and buy there. For example, yesterday I made 3 successful trades that netted me $1,200.00 on the silly drops related to that idiot Matt Stewart. While not a great deal of money, it adds up while I run my business. My success rate is 75% or so.
the way this market is traded,,,I would not walk away from the computer for 2 months....... there is no telling what could cause a sell off..... modern day macro trading.... 0 investing only trading......
I gotta agree with Swami on this. Every once in awhile they try to stage a bear raid on HFL; there have been some profitable day trading opportunities in addition to a core long term hold being held in anticipation of a recap before year end.