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January 10, 2007

Nasdaq DayTraders Back in Force

posted by MR WAVETHEORY at 1/10/2007 10:57:00 AM
Remember the rise of the day traders, the SOES bandits, the guys who were going to democratize Wall Street? Well, it never really happened that way. As a group, these guys crashed and burned when the bubble burst. Even before then, it was getting harder and harder to pick off trades. But as the bull market heats up, some suggest that day traders are ready to reappear. I do not think we'll see a resurgence of firms like Block Trading. But two new brokerages, OptionsHouse.com and Just2Trade.com, have opened for business. Both will cater to active traders. At the same time, mainstream brokerages have made it easier to really crank up the trades. Of course, the Internet is better able to handle it now.

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