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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (6074)	6/22/2010 11:48:35 PM
From: HankGoldman	7 Recommendations Read Replies (2) \| Respond to of 220633

I'm glad to hear someone else say it, this market is very strange. I'm still a tiny bit short, now I wish it was more, that is at least until I see what happens between now and 08:00 EDT when US premarket trading opens <grin>. Some of you may recall that in the past year or two GS had a beef with a software developer they claimed had stolen their code. GS urgently advised anyone who would listen (FBI, SEC, EIEIO, etc. ) that the software could be used to manipulate the market (!). Damn, thanks for letting us know such power has been in safe hands until now. I recently heard a claim to the effect that 2/3 of the daily dollar trading volume in U.S. markets is generated by computerized trading algorithms operating without human intervention. If true, now we know who the big dogs are, and inscrutable dogs they are. Another flash crash may be too much to hope for <g>, but at the time it did make me wonder if I shouldn't just make a bunch of GTC buy orders for $0.01 for when it happens again. The trading circuit breakers recently implemented invalidate that strategy AFAIK, but I'm pondering there may be other angles. I've invested to save for the long term, I've day traded more than enough to not care it, and I've had pleasing success on position trades with hold periods of days/weeks/months. I think what I'm doing now needs a new name, perhaps one that communicates that this is uncharted territory and I'm flying blind with possibly faulty instrumentation. Good luck everyone, FWIW I'm short lunch money until tomorrow morning, after that who knows, if you do, please tell me <g>.