Thursday, February 26, 2004
ON THE TICKER: As stocks rebound, so do day traders
With the recovering stock markets, a symbol of the Internet boom is also recovering: the day trader.
Lured by the turn that markets took last year -- major market indexes finished 2003 firmly in the black, reversing a three-year losing streak -- many day traders have returned or stepped up their trading.
Andy Gill, a senior vice president at Charles Schwab Corp., said the San Francisco brokerage firm's active-trader business has seen activity ramp up 80 percent from a year ago. At E-Trade Financial Corp., revenue-producing trades from the unit that caters to active professional traders rose to an average of 42,208 a day in 2003 from 20,876 in 2002.
The more bullish mood was evident at the International Traders Expo in New York, which began Sunday and closed Tuesday....
