article in australian investment review reits, page-8

"Day trading is speculative but it also provides liquidity to the market, isn't it? I won't describe it 'cancer'. Just my thoughts"

I certainly describe it as cancer. Traders provide volatility not liquidity. Without volatility they desert the stock. There is plenty of liquidity if a company is performing as there will be investors wanting to get in. If a company is not performing there will still be liquidity as there will be some wanting out.
Trading only profits a few successful traders at the expense of others and makes huge profits for brokers. Most of that profit is from the brokerage charge that is out of proportion for the smaller trader and usually absorbs most of the profit margin.
Money tied up in trading shares is unproductive and would better serve both society and the holder of that money if it was invested in a productive way.
To criticise traders is a good way to get thumbs down on HC. Those that trade usually don't see the fact that they are probably,in the main,long term losers who would be better off as long term holders and eventual winners.
That is the way I not only see it but as the way I have found it to be over many years.