I am not talking 'bout plants/animals going extinct..but a breed of people who, due to recent global market developments, seems to be vanishing. I am referring of course to traders who buy and hold stocks - INVESTORS in simple word!
I believe i had become one. We are what is known as DAYTRADERS, as distinct from SWINGTRADERS. Daytraders are traders who buy stocks and never hold them for a day or two. They get in and get out same day, usually relying only on technical indicators.
The culprit of this trending phenomenon is the global economic/finacial chaos especially in Europe. This situation gives rise to the high volatility of the market all over the world considering the interconnectiveness of the economies. Most governments in the world are saddled with enormous debts beyond their capacity to repay. Financial institutions as well have high exposures to bonds and derivative mortgages. Bailouts have become necessary inorder to survive and at whatever costs even if they become unsustainable due to high interest rates.
As a consequence, markets all over the world are experiencing unprecedented volatility. This what gives rise to this new breed of traders!
WELCOME DAYTRADERS!
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