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11/18/2008
Tuesday morning
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| The growth of trading on the Internet has been phenomenal and its hard
for (online brokerages) to shut off the faucet. When someone wants to
open an account, its hard to say, No, we dont have capacity for a new
account, said Junius Peake, a professor of finance at the University
of Northern Colorado in Denver. |
| To continue on with this, wasnt there just some report submitted
to Congress on gambling in America, and what might need to be done
to curb it? As I recall, I dont think anything was said about
frequent online trading, but dealt with the spread of casinos,
lotteries, horse racing, etc. |
| One reason why online traders may not be lashing out is that, despite
the assertions of full-service brokers, theres little difference
between waiting to make a trade online and waiting to make a trade by
telephone. |
| In any event, I do online trade, to save on commissions. I dont
day trade, but hang onto stocks for very long times. Even if I
wanted to day trade, I couldnt, since my weekdays are usually
consumed with my job. |
| Even before the recent spate of slowdowns and system outages, most
online brokerages had been continually upgrading their networks to
handle the growing traffic. |
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