Old Rick

Friday Roundup: Commodities, Emerging Markets

Larry, the SEC is looking at so-called "High Frequency Trading" (HFT) wherein these programs can analyze spreads at millisecond timeliness, post a bid for a couple milliseconds, then withdraw it and get a sell in at the higher bid. I don't fully understand all the nuances, but there have been stories in recent days in WSJ, Bloomberg, etc. That paragon of political integrity, Chuckie Schumer is demanding an investigation. I think zerohedge and themistrading have discussed this fairly extensively. Seems that GS is now making money the old fashioned way; they're cheating!!