Why yes, it is.

I've known this for years. The big "day traders" and institutions use expensive setups and access to "seats" on exchanges that allow their trades to snap into place almost instantly. I have an account that costs me almost nothing to make trades, but it takes a day or two. God help me if I ever try to catch a "wave." I rely on long-term trends.

Sure, companies can drop like a rock or jump wildly five seconds after a particular piece of news, but if it's a real company, with long-term prospects, things will eventually settle down. I tend to work with funds, not individual stocks, and I balance the portfolio. I'll never hit it rich, but I don't take the baths some people do either.

A fun movie on this theme was Trading Places.

(Now if goddam Apple would just up and split already!)