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Home Finance Day Trading Day Trading the Night Away
Day Trading the Night Away PDF Print E-mail
Written by James Pynn   
Thursday, 05 November 2009 09:13
Remember the 1990s? The Seattle scene crackled through the air waves while home computers took up an entire desk. PULP FICTION, Bill Clinton, and O.J. Simpson captured our imaginations and made us think twice about basements, cigar smoking, and leather gloves. As the Internet boom swelled and everything we had been taught in 8th grade computer science class went right out the window, one thing became abundantly clear: making money was easy in Dot Com World. Being the next Bill Gates or Mark Cuban was just a matter of time.
by JamesPynn


Remember the 1990s? The Seattle scene crackled through the air waves while home computers took up an entire desk. PULP FICTION, Bill Clinton, and O.J. Simpson captured our imaginations and made us think twice about basements, cigar smoking, and leather gloves. As the Internet boom swelled and everything we had been taught in 8th grade computer science class went right out the window, one thing became abundantly clear: making money was easy in Dot Com World. Being the next Bill Gates or Mark Cuban was just a matter of time.

Table-sized laptops became so popular even my dyslexic uncle had one. He managed a local greasy spoon by day and welcome freeloaders lie me. While I snarfed my fries, he'd day trade away like a regular Aristotle Onassis. Tool bad he wasn't the sharpest tool in the shed. So, I was actually shocked to discover he was making money. With a few more trades, we was set to become a regular Gordon Gekko.

Flabbergasted that his dim brother was banking, my father decided to get a laptop and start making some easy money too. I can't remember if he blew our family savings in a week or ten days. Yup, fifty grand -- ten years of saving -- gone with a click of the mouse. Thanks, dad.

My slick, computer-savvy cousin had recently graduated with a useless major in English. naturally, he moved back home right after graduation. The days I wasn't commuting to school on the bus, I spent with him. Back in those days he was spending his time sleeping until noon and beating me in tennis. But most of the time he waited for the inspiration to write the great American novel. As the months ticked by, his family grew less patient. No deadbeat son of theirs was going to play tennis all day and write all night.

Piling onto the busted bandwagon, he started day trading. Using what was left of his trust fund; he bought up stocks in some up-and-coming Internet companies and hoped for the best. As Y2K loomed, the money began to dry up on the Internet. The glory days for we mortals are short-lived. Like in Vegas, the allure of rolling the dice one more time is too strong. Maybe he would have been better off writing that novel.

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