GRISTMILL FALLS, Ohio (CNM) -- The Strip Mall Securities trading floor opens at 8 a.m., but most of its regulars are already waiting outside by 7:30, clutching coffee and printouts of Internet message boards.
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| A day trader at Strip Mall Securities |
Inside, rows of desks hold monitors flashing green and red. Members pay $300 a month for a seat, a high-speed connection and unlimited popcorn. "It's like a casino," said one trader, "except the popcorn is better and they do not bring you drinks."
Retired schoolteacher Lorraine Duffy, 61, says she made $14,000 in November and lost $9,000 in the first week of December. "Net, I am up," she said. "Net is a very important word here."
Regulators have warned that most day traders lose money. Many in the room acknowledged the warnings and returned to their screens. "My wife wanted to know what I want for Christmas," said one. "I told her: volatility."
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