The market is putting on a show better than Marx Brothers' A Day at the Races. One day bulls hate HFTs and the next they're saviors. You can't have it both ways and the action is getting downright silly. It's completely dominated by HFTs.
So, let's see if I've got this week right so far: -635; +430; -520; and +423 for the DJIA. Who can push these kinds of results? HFTs are the only reasonable answer.
In the end this volatility and manic behavior is a massive turn-off to Main Street. The powers that be (TPTB) are pulling out all the stops to thwart action they don't like. Margin requirements were raised on gold because rising gold prices are a Bronx Cheer to the Fed, Treasury and Administration.
Subscribe to our RSS feed