Fake Report Erasing $136 Billion Shows Market’s Fragility
One more "glitch". Is anybody thinking with his own head any more?
95% of trading is made by robots at scalping level or by few minutes using several thousand millions on "average profits"
this means: once the "EA" detected the correction, will try to catch the trend, without doubt or swearing
Some human operator will do the same but at slow rate. Robots aren't the problem.
i think most are becoming wise to wall streets manipulation tricks
at least they have the FBI investigating 
the most astonishing part is how much money these people make in one afternoon or ten minutes
95% of trading is made by robots at scalping level or by few minutes using several thousand millions on "average profits"
this means: once the "EA" detected the correction, will try to catch the trend, without doubt or swearing
Some human operator will do the same but at slow rate. Robots aren't the problem.If there is a problem, it is speed. No human can compete with the speed of HFT.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
A false report of explosions at the White House that wiped out $136 billion from the Standard & Poor’s 500 Index in about two minutes highlighted the risks of the computerized trading that dominates the $18 trillion market.
The S&P 500 was up about 1 percent at about 1,578 at 1:07 p.m. New York time today when a posting on the Associated Press Twitter account said there had been explosions at the White House and President Barack Obama had been injured. The benchmark gauge for American stocks erased almost the entire gain, falling as low as 1,563.03 by 1:10 p.m. The index recovered from the plunge within three minutes as the news service said its Twitter account had been hacked and there were no explosions.
“Trades should not be busted,” Rick Fier, director of equity trading at Conifer Securities LLC in New York, said in a interview. His firm oversees $8 billion in assets. “No human believed the story. Only the computers react to something that serious disseminated in such a way. I bought some stock well and did not sell into it. Humans win.”
read more ...