its about time . http://online.wsj.com/article/SB10001424052970203918304577239440668644280.html?mod=wsj_share_tweet WASHINGTONâSecurities and Exchange Commission Chairman Mary Schapiro said Wednesday she is worried about the role of high-frequency traders in the stock market and hinted at new policies aimed at curbing frenetic market activity. A large portion of trading in the equities market has little to do with "the fundamentals of the company that's being traded" and more to do with "the minuscule aberrational price move" that computer-assisted traders with direct connections to the exchange can "jump on" in fractions of a second, Ms. Schapiro said.
what? that stupid woman wants to go backward to stone age? sure, let's trade by counting with our fingers and toes. oh, no toes, that is too advanced. fingers only. What needs to be stopped is unfair practices, such as co-location of servers and front-running by her fellow crooks in GS, insider trading, Congressmen's blatant use of insider information.... What we need is a level playing field! When their servers are colocated with exchange servers, it's not level playing field. When they get insider information 5 minutes before it is released publicly, it is not level playing field. I don't care if they do high-frequency trading or medium-frequency trading or low-frequency trading, it's their choice. As long as the playing field is level. The same can be said of traders who use 1-minute chart, 3-minute chart, 5-minute chart, 1-hour chart. It's their choice. SEC should not stop traders from trading 1-minute chart, should not limit the number of trades, i.e., the frequency of traders. I think it's better SEC employees surf the porn site. In this case, they do more harm. Let me see the motive of Shapiro: Is it true that your wall street crooks are losing money in this market? You come out to help your fellow crooks? "fundamentals of a company"? Does that mean "insider information"? Shapiro is echoing the frustration of Cramer who thrives on insider information, aka "fundemantals of a company." No, we traders don't have to use insider information, we trade technicals, we leave insider information to you crooks! Enjoy your "fundamentals of a company"! crooks. No wonder Madoff called you a "terrific lady."