Yes 90% of short term traders do lose over the long term, Wu Gin. As for "wasting time", I'd say it's only a waste if you don't enjoy it.
It's like being a professional sportsperson or entertainer. If you're in the top 5% you make a killing, top 10% you do very well. If not, you won't be able to put food on the table and will tend towards bankruptcy.
I've noticed that some of the better traders in here do it as a part time thing, with a normal paid job to live off - THAT'S how hard it is.
Anyway...
PDN looks like it will do ok today. Have $4.38 as target.
