July 11, 2006

Stock Market Hours Are Antiquated

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)

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