RMost of the Novice day traders have been wiped out
Most of the novices have had to learn the hard way, that its easy to make money when the market is on the way up. Its equally easy to lose it all on the way down. And its all magnified when trading on margin.
Technology isn't to blame for the current market woes: Human nature is. Human nature bid the prices up and now its biding them down.
Eventually the psycology will change back to buy, buy, buy...
It just might take a year or two. Is economy headed down in the meantime? Nobody knows, all you can do is speculate.
Scott