More halts.??? http://www.businessinsider.com/report-tokyo-stock-exchange-halts-derivatives-trades-2012-8
I'm no techie but there seems to be something evil going on here. NYSE launches Retail program, Knight tries to get around it and blows up, Tokyo and Spain halt some trading. Some hacker is trying to get an edge and messing everything up in the process.
Going forward another new risk has been elevated---exchange related. Add this to natural disasters, man-made disasters, terrorist events, war, etc.
I'll take machines over scumbag mm's who don't pick up the phone (aka 1987 crash) any day. Of course thats assuming they leave the machines turned on. It's always hilarious when the market moves big and option mm's disappear.
True. Not to say exchange risk is new but that technology exchange risk is climbing the ladder. That's why selling when it's up and buying when it crashes works so well I suppose. Fear incited by the unknown. Confidence inspired by the decision to ignore risk.