With small exceptions, including extended hours trading, the time in which the general public has the opportunity to buy and sell individual stocks is still largely tied to ages-old tradition and scheduling, tied to the East Coast (New York City) and arcane hours kept by men who it seems can't eke out an eight-hour day. For those of us on the West Coast, the time in which the stock market is open is surprisingly fleet - the market opens, for real, at 6:30 a.m. Pacific, and closes shop at 1 p.m. - just under seven hours (not taking time for lunch).
As somebody who works for a living during normal business hours on the Pacific side, but also prefers staying up late to getting up early, overlap between open market hours and time I have to actually study the market and make transactions is ridiculously small. In an era of 24-hour shopping networks on TV, and anytime shopping, news and sports on the Internet, it really doesn't make any sense that trades can't take place whenever the heck I feel - after all, it's my money.
The idea that a bunch of businessmen in suits, shouting noisily, waving papers in the air continue to dictate the time in which I can make significant financial decisions, in this era, is ridiculous. Though there are a few loopholes, it's often the case that the majority of stock moves have taken place before I've even checked the ticker. I look forward to the times, and soon, that this changes.
Listening to ''Nautical Bodies'', by Paul Oakenfold (Play Count: 5)