Forum Archive Index - March 2000

["hugh webber" <hugh.webber@clear.net.nz>]

you're probably right Robert I still haven't properly
fathomed day traders. To me 'expensive' is a function
of the p/e and gross yield rather than the total price and
in p/e and gross yield Telecom would be rather cheaper 
than the average NZSE share at a guess. 
I thought one of the requirements of the day traders was
a good turnover and liquidity which TCM seems to meet.
I also thought that with facilities like Access $29.50 per
trade no matter how big that brokerage to a day traders
was now no longer much of a factor. I'd have to concede that
in short term terms TCM's price seems to be all over the
place and subject to amazing and sudden turnabouts
which I guess day traders don't have any inside running on
except first access to the published news - maybe first
to hear the Saturn/Telstra and I think day traders have
some access to short selling. 
But I'm happy to learn more about day traders, they all
seem to be quite fascinating people with fascinating
modus operandi.

cheers,
Hugh

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