Forum Archive Index - June 2000

["Mark Hubbard" <mhubbard@es.co.nz>]

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From: Derek Watt <watt250@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: 14 June 2000 8:38 PM
Subject: [sharechat] Do any brokers in NZ support day-trading?


> The 3 part secrets of a day trader was well worth a read, thanks Roy and
> Andrew.
>
> An important part of his strategy was to be able to buy and sell within
> hours if not quicker. The best I can get from Access Brokerage (much as I
> like their low fees) is about 3 days. There have been many times when I
have
> wished to sell at a profit before this time, while after 3 days the
> opportunity was gone. Does anyone know if there are any brokers in NZ that
> allow a faster turn around?


Just a thought Derek, it may not be the broker at all, but rather, and more
likely, the lack of liquidity of NZ's market. For example, the top riser on
the NZSE yesterday was Pure NZ, however, when I looked at the volume, the 6c
increase in the share price was over only 100 shares, at a grand total of
$19 (the brokerage on the transaction would have cost more!). Thus, if you
had held that stock and thought of taking  a profit, there most likely would
not have been any buyers anyway.

By the way, regarding the above transaction - why would someone do that?

Cheers


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