theobannion

Friday Outlook: Commodities, Global Markets

If a small investor (account value less than $25,000.00) who had been labelled a "pattern day trader" had bought FAZ at 9:30 AM, liking the first half-hour's action, and wanted to cut his losses that afternoon when the price went to a new daily low, he would have been prohibited from doing so and would have had to wait until the next morning.

Isn't it great how Cox's SEC looked out for the little guy? So far, Schapiro has done nothing about the rule prohibiting the little guy from day-trading.

Most traders don't even know the rule exists.

Best,
SOB.