Monday, April 27, 2009

Daytrading, the next fad?

I'm finding that more and more daytraders, who have been blogging and vlogging for several years now, are going "pro", they have decided to start charging for their services. They have rightfully earned their status, with a regular population of followers, so they can get away with adding the extra income. More power to you guys.

But it's an interesting sign of the times: more daytrading followers indicates that more people are looking to trade for themselves. I'm just worried that sudden growth like this could turn into fad-status, but I'm not sure what to make of it yet. Right now, we could use some more meat for the grinder, the volume has been so low these past few weeks that the big money movers (a.k.a. Market Makers) have nearly full control over what the markets are doing that day.

The only thing I can think of for now is that 401k firms and mutual funds might start having to get creative to retain investors, while this new wave of private (and unlicensed) advisors fill the holes. Interesting times, indeed.

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