Forum Archive Index - April 2000

["John crawford" <jcrawfor@voyager.co.nz>]

Can someone explain how Singapore Airlines has filed a SSH notice with an
interest of more than 50% of Air NZ ( both A and B shares ) when the stake
for foreign buyers was limited to a max of 25% ??

Comments and explanation will be gratefully received


-----Original Message-----
From: Sarah Corkill <Sarah.Corkill@directbroking.co.nz>
To: 'sharechat@sharechat.co.nz' <sharechat@sharechat.co.nz>
Date: Thursday, 20 April 2000 09:05
Subject: RE: [sharechat] Daytrader ?


>Hi Mike,
>
>I think the term 'daytrader' in the NZ market is kinda misleading.  We do
>have alot of short term traders in the NZ market who are essential for
>providing liquidity and depth of market but they usually buy today, hold
for
>a day or so and then sell - not in and out in one day.  I have been known
>when I think something is looking too cheap to jump in and out in a short
>space of time.
>
>I'm not sure on the figures but I do see alot of people who try and trade
to
>make quick money.  Some do very well and it and I have seen some clients
who
>are VERY good at reading the market and profiting from it but they are a
>very small portion of traders.
>Unless you have to time, patience and capital to put into trading then most
>should steer clear of the idea.
>
>I am of the opinion that individual traders can compete with the
>professionals (brokers/fund managers) if everyone is trading with the same
>information but information is expensive and traders have to be prepared to
>wear the cost.  Brokers pay buckets of money for news feeds such as Reuters
>& Bloomberg to receive information but it's how you interpret the
>information that counts.
>
>Happy Easter!
>
>Sarah Corkill
>Direct Broking
>
>
>
>-----Original Message-----
>From: Mike Hudson [mailto:mikehudson@clear.net.nz]
>Sent: Wednesday, 19 April 2000 21:14
>To: sharechat@sharechat.co.nz
>Subject: Re: [sharechat] Daytrader ?
>
>
>As I  made the comment about day traders I  guess it is up to me to
respond.
>
>"This forum's a real time-wasting addictive trap Ben, you've created a
>monster ! I wish I could stop myself from popping in, & then I wouldn't be
>reading the endemic bigotry, hype, crystal-ball gazing, and endless
>speculative nonsense."
>
>It is addictive - long may it continue. But without the hype,  bigotry etc,
>there would be no Sharechat, that's what makes it fun. Having said that
>though I have just caught up on the posts from the past the last few hours
>which are in the main a waste of cyberspace.
>
>"The claim that "daytraders" whoever they might be cannot compete with the
>professionals is nonsense. The "investors" making that claim are the ones
>whose buying habits provide the bulk of the pros' income.
>
>When I talked about professionals I meant the brokers, market makers and
>other people close to the action, the old boys net, the people who always
>win.  I have seen it reported (no idea where or when) several times that
>surveys show that something like 80% of day traders lose money. This could
>be an urban myth but I don't think so. Perhaps somebody out there could
>provide the reference to the source."
>
>"Just who are the "daytraders" referred to below...are they the brokers who
>indulge in a bit on the side when opportunity presents itself, fleetingly,
>on their screens ? Are they the folk who sit at home with Omnitrader
getting
>continuous data from the ASX buying & selling during the course of the day
?
>Or are they the ones looking at daily NZSE data and holding positions for a
>couple of days to a couple of months ? "
>
>I think they are closer to the second group that Tony mentions. The first
>group are the part of the professionals I referred to above.  To me a day
>trader  is someone who makes many transactions during the day looking to
>take advantage of small price movements. They use a direct access broker
and
>probably do not trade in head shares but rather in options, puts, calls,
>straddles, spreads and other esoteric instruments which I don't pretend to
>understand. I have a sister in law in the States who does this, she
>specialises in  four or five stocks (which are high volume and volatile)
and
>will buy and sell them many times a day. Typically a day trader may close
>out his or her positions at the end of the day. The poker analogy is a good
>one; there is only so much money on the table and for every win there is a
>loss, except for the dealer (the broker) who skims a little bit from every
>transaction. I don't think that there many  day traders in NZ and if there
>are they would be trading on overseas markets as ours does not lend itself
>to day trading. I am sure that none of the Sharechatters come into this
>category.
>
>In case anybody missed them I suggest reading the Fool articles  posted
>yesterday are well worth reading.
>
>http://www.fool.com/FoolFAQ/FoolFAQ0048.htm
> http://www.fool.com/boringport/2000/boringport000118.htm
>
>The third group which includes most of the Sharechat fraternity (or
>sorority) to a greater or lesser degree, consists of Short Term Position
>Traders as Tony describes himself. These are not day traders. Momentum
>traders is the term I think. These make up the bulk of the new breed of
>Internet enabled players in the market and IMO are more responsible for the
>volatility in the markets than the day traders.
>
>"An individual, working from home with his own capital, no regulatory or
>policy restraints on portfolio balance, unlimited time to sit & watch, and
>virtually unlimited ability to instantly trade most markets can, because of
>his/her unique degree of flexibility make regular money, have lots of fun,
&
>co-exist with the big guys, on their coat -tails if possible !!"
>
>Agreed.
>
>There are folk out there, I can name a few, who have more money to put into
>the market than I could even dream about.They also hold down , and
>presumably enjoy, excellent jobs, which I envy them more than their
>money....enjoying their work that is...I hated my building business for a
>decade at least.... Trading is my way out of the work dilemma. I work from
>home.I make money. And I take offense at the comments from the bastards who
>look down on me, but it's my own fault 'cos I keep coming back.
>
>I couldn't possibly comment except to say that my mother and father were
>married.
>
>"I don't mean to offend , but , some of you should stand back & take a hard
>look at what you post."
>
>Non offense meant, non taken.
>
>As the level of debate from this group has now descended to the level that
>one would expect from the Yahoo boards I will take a break and hopefully
>rejoin in a week or two when some normality may have returned
>
>Have a nice Easter
>Mike H
>
>
>
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