It’s Not Your Father’s Day-Trading Anymore

My father was a day-trader back in the 1960’s and 1970’s.  He was a member of the New York Stock Exchange and traded for his own account.  He worked on the floor of the exchange, knew all of the specialists (those rich guys who were obligated to make a market when no else wanted to) and he had a sense, borne of years of trading and participating in the chatter going on around him, where the market in any given stock was likely to go. Back then, stocks were traded in eighth’s of a dollar (12.5 cents) and a big…...