Pure in third, high frequency traders play hot potato
2010-12-06 19:22 ET - Street Wire
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"A fast trader can submit five trades a minute, whereas an HFT can submit 60 million trades a minute"
Fake trading, what a bunch of BS!
Posted by On Crack at 2010-12-06 21:04
No wonder the volume does not add up to the price movement on Seafield. Seafield has basically traded it's fully diluted share capital in 2 days.
Why do human brokers get fined for "wash" trading when Bots get to run wild? It makes no sense.
Posted by Double Standards at 2010-12-06 22:02
We should all be allowed to "edit" the balance sheets of our online banking and trading accounts.
I mean WTF is real anymore? Let's all just add a few zeros to our balances and feel rich for a bit.
The FED does it, most banks do it, and this HFT fake creation of liquidity is getting it done also.
Price of silver and gold are telling the true story. To hell in a hand basket in nano seconds.
Hold on to your bullion.
Posted by what is real? at 2010-12-07 18:38
"Themis Trading's Joe Saluzzi agrees; he says playing hot potato is similar to circular trading, in which a group of traders work together trading a stock to make it look like the stock is on its way up before dumping it."
I thought traders were supposed to go to jail for this sort of thing? In the past I believe the SEC referred to it as "market manipulation". Of course Canadian regulators get off on seeing increased volume, even if it is fake. Their inferiority complex is incurable.
Posted by Bud Fox at 2010-12-08 19:47
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