The great ASX balls up, page-76

No, that's how LTHs may interpret them. You have to use the buttons on here, and as far as I'm aware there are no rules or guidelines as to how, so my interpretation is as good as yours. As to what's better, long-term or short term in-and-out, that's up to the individual. If everyone was a LTH, you wouldn't have much of a market indication as to what a stock was worth due to low liquidity. As to CGT, I do my short-term trading from a super pension account, so it's not an issue for me. All my other investments in accumulation (and some in pension) are in LICs and are long term and defensive.