Great article. Thnx for posting. But that article really felt very 1999. I can't believe guys still trade that way in this environment. I guess they have lost 80% of their floor since 2008.
Oh nice, I know a few guys at greatpoint. I haven't met Matt, but he sounds like an interesting guy. Their office is practically empty the last time i went there. I'd say about 30% of the room is occupied. Hey but this firm is still around, some of the guys are still swinging a pretty big line there from what i hear.
Here is a trip down memory lane. I actually attended this expo back in 1999 and marked the eventual top in the market. I met Lawrence Black at this event as he was the super star at the time in this business. http://www.marketwatch.com/story/day-traders-crowd-training-expo Old Donny boy was there as well.
<iframe width="560" height="315" src="http://www.youtube.com/embed/libsLx0mSSw" frameborder="0" allowfullscreen></iframe> I found this video interesting.
Ben Lichtenstein on the flash crash, hall of fame worthy!! http://www.youtube.com/watch?v=1mC4tu1NhUA
my guess is buy em with an 8 tic stop, no major negative news, oil is cheap, China?, tropical storm Debby, more euro bs to come .....blah blah blah