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The rally is getting long in the tooth.

I would like to hear your argument behind this statement.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aex4NXE25Y0E

It never gets rejected. It just sits there and according to IB waits for it's match.

I don't know what you mean 'on the open' but my guess it's a market order. Try to use ISLAND. I route SPY orders to ISLAND and I have no problem with the odd lots.

What symbol? What exchange? What orders?

The business cost related tax ( and that's what the transaction tax is ) would have more detrimental effect on business than consumption related tax. So I am looking for business cost related precedents ( not consumption) of taxation.

The transaction tax ( even if we call it "a tax") is not like any other tax. Normally the taxes are levied on profits from businesses. http://en.wikipedia.org/wiki/Tax#Corporation_tax This one is not charged on profits but it actually increases the overhead cost of the trading business since it...

Rsikit, I have question: Does the transaction tax have actually any precedents in the history of the modern taxation when the tax is used to increase the overhead cost of the business?

ETFs are up.

IB is subject to US regulations for US residents.

Any market participant is a "liquidity provider" to some degree. On the other hand if volume will fall sharply whom the "liquidity providers" are going to provide the liquidity to?

Neither do teachers, firefighters, real estate brokers, showbiz people etc. Daytrading is essentially paper-shuffling, and is about as meaningless an economic activity as we have in our modern society. That's because you don't understand how important the speculators are for the free...

Any endeavor that is profitable and pays taxes on profits should be qualified as a meaningful economic activity.

The government is the one who should care most because people who hold stocks for 5-10 years do not contribute much to the tax revenue.

Your bankroll has to be 4-5 times of the margin at risk to play it safe. In this case your return would be 0.6% - 0.75% of your total account. Your bankroll is only 2 times of your margin at risk which is too small in my mind.

The way it's structured is that every signee adds his comments at the end of the skeleton letter. This is ok for a loose group of traders without a leadership. I am thinking more in terms of one letter that would combine the ideas and arguments of individuals into one logic thread. But that...

Because I would prefer to sign the petition and have added to it my arguments against the tax instead of writing my own letter. I believe there are more people like me who would sign the petition but won't send the letter. I believe also that it would have more impact than individual letters and...

Wouldn't be a best way to 'have voice heard' if they have read a letter signed by thousand people that included their best ideas on the subject? Petition sort of.

They might provide a way around the transaction tax but at expense of counterparty risk if they are not backed by actual futures contracts.