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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (39669)	9/18/2011 5:59:37 AM
From: axial	Respond to of 46821

Hi WLD - 'Going back four and a half years puts it at, I believe, the very dawn of the penny-spread experiment.' Perhaps. I'm not sure whether that's a criticism or an observation. Are you stating the data is inaccurate? Wrong? 'It seems to me a more relevant question to ask is if traders are generally improving on the previous era's nickel and dime spreads. All the evidence I've seen/experienced says the answer to that is a resounding "Yes".' "People who can be bought off by faster trades, and exchanges that are raking in fabulous profits have no particular interest in systemic issues. Rubes get chickenfeed, the rest get major moolah. The financial sector has learned Vegas' trick - give everybody a cut, and grow the skim. Incentivize risk." Message 27182215 --- I trade. Recently I've seen faster trades and lower trading costs. However if the whole thing - banks, pension funds, markets, national economies - crashes again because once more the financial sector either did not understand or ignored the global risks - then I lose. We all do. HFT, ETFs, derivatives and how they work together. It's about systemic risk. Not cheap trades. --- So what's the significance of the Nanex post? Simply this: it's one more point where pro-HFT claims are disproved by the data. The financial sector, its practitioners and critical thinking: geniuses? Masters of the Universe? I think not. Jim