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Old 08-03-2012, 03:16 PM   #1
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Another craptastic day in the market

Well, the DOW closed up well over 200 points on the day, but volume was nearly non-existent at 112 million or so shares handled. Folks, that is about a quarter of boom time volume, and most of it is just algos sweeping up widows and pensioners pennies off the floor. When I see days like this I want to fucking scream. Remember day-traders? They've gone the way of the dodo bird since it is no longer possible to make an honest buck on the street. Unless you are trading the pink sheets, or doing arbitrage plays on metals, there really isn't much a regular Joe can do without getting front run by some fucking computer. Just look at the havoc these things can cause. Just yesterday a perfectly viable company was crushed by their own dumbass programmers, who obviously screwed something up, since a shit pile of trades god DK'ed and cost them something like all of their available cash.

When is the SEC or even the congress going to step up to the plate and outlaw this practice? I say a trade has to be made by a human being, and it has to be held for at least fifteen minutes. Period.

The shenanigans need to end and they need to end right now. If there is no integrity in the markets, what in the hell would motivate anyone to invest their money in them anyway? When an algorithm can wipe out a perfectly viable company in 48 hours, what's to stop[ them from killing off a strong and sound company, simply by pulling the bid or dumping a shit pile of non existent shares?

Man this stuff pisses me off.
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Old 08-03-2012, 07:45 PM   #2
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This is a GREAT TIME to sell some stocks!

Disclosure: I have been a net seller of stocks since 1995.

And a buyer of gold since the 1980s...
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Old 08-03-2012, 07:55 PM   #3
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Hey Mark- I read some books from 1890- the scams go on and on.

It was brutal back then too.
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