are a scourge that need to be cleaned up and tossed out with the bath water… sigh.
Our stocks might just be a bit more stable if not for the day traders that buy big and/or sell big at the slightest notion of any bad news. When they do these huge sellouts, it drives others who would have normally been in it for the long haul to panic… and then they start to sell off.
Dudes… leave well enough alone and it will all sort itself out in the long run. If your just in it for the quick buck… then you need to be hung by your toes and dipped into a piranna infested river. Slowly.
I totally agree with that sentiment. They are the whole reason the cost of retail gasoline skyrocketed. After investigation by 60 minutes, it was shown that in collusion with the big oil companies, the day traders managed to make millions in profit over the purchasing of wholesale gasoline without ever having to actually take possession of the product. But drove the prices high. They did the same to electricity several years ago and almost make the State of California bankrupt. Bad, bad people.