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PostSubject: Stock Market...warning...   Thu Aug 05, 2010 2:16 am

This should scare the shit out of you, as gamers...

You KNOW that the requirements for security in the digital age conflict directly with the requirement for FAST transactions (normally in the single-digit milliseconds)...the Black Hat conference in Vegas last week had some lengthy discussions about it, but this should surprise no one--about as much as the 1 TRILLION USD that mysteriously "evaporated" from the markets a few months ago, that Turbo-Timmy Geithner and company attributed to "fat-fingering." Endemic problems should not be discarded as fat-fingers. Read on. And if you are invested in anything...I sincerely hope you've covered your ASSets.


A reader
Quote :
"spotted a fascinating story at The Atlantic about "mysterious and possibly nefarious trading algorithms [that] are operating every minute of every day in" the stock market:
"Unknown entities for unknown reasons are sending thousands of orders a second through the electronic stock exchanges with no intent to actually trade. Often, the buy or sell prices that they are offering are so far from the market price that there's no way they'd ever be part of a trade. The bots sketch out odd patterns with their orders, leaving patterns in the data that are largely invisible to market participants."
Spotting the behavior of these bots was possible by looking at much finer time slices than casual traders ever see — cool detective work, but as the story points out, discovering it is just the beginning: "[W]e're witnessing a market phenomenon that is not easily explained. And it's really bizarre."

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