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Re: None

Friday, 10/19/2007 7:27:13 PM

Friday, October 19, 2007 7:27:13 PM

Post# of 72323
Concerning daytraders: Just as the name implies daytraders will in most cases sell out their positions before the close each day.
I have been part of a daytrading group for years and the way it works is simple: we trade several times during the day so if we have to sell the closing position at a loss we are still up on the day.
That is why you will notice (when a stock is really trading a huge amount of volume) betweem 3:15 and 3:50 you usually see the pps drop.
After that it usually goes back up the last few minutes as the daytraders are out.It is fun but it's not for everyone.
I have had days when I ended up $20,000 to $25,000 and also some when I ended up down that much.The key as with any investing is to have more up days than down days.
All that to say, no these trades were not daytraders.
Probably one mm owed antoher a big favor and let them buy some or let them cover a short position.
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