How JP Morgan & Goldman Sachs made $100 million profit per day in the last quarter?
Here's a clip:
"Let's say that there is a buyer willing to buy 100,000 shares of Broadcom with a limit price of $26.40. That is, the buyer will accept any price up to $26.40. But the market at this particular moment in time is at $26.10, or thirty cents lower.
So the computers, having detected via their "flash orders" that there is a desire for Broadcom shares, start to issue tiny "immediate or cancel" orders - IOCs - to sell at $26.20. If that order is "eaten" the computer then issues an order at $26.25, then $26.30, then $26.35, then $26.40. When it tries $26.45 it gets no bite and the order is immediately canceled.
Now the flush of supply comes at $26.39, and the claim is made that the market has become "more efficient."
Nonsense; there was no "real seller" at any of these prices! This pattern of offering was intended to do one and only one thing - manipulate the market by discovering what is supposed to be a hidden piece of information - the other side's limit price!
With normal order queues and flows the person with the limit order would see the offer at $26.20 and might drop his limit. But the computers are so fast that unless you own one of the same speed you have no chance to do this - your order is immediately "raped" at the full limit price!
The presence of these programs will guarantee huge profits to the banks running them and they also guarantee both that the retail buyers will get screwed as the market will move MUCH faster to the upside than it otherwise would.
If you're wondering how Goldman Sachs and other "big banks and hedge funds" made all their money this last quarter, now you know."
True scientists celebrate failure.
I intend to buy a high-end desktop. Please advice me.
Automated Stock Predictions
Why don't you offer your own browser to your complex web application to your customers?
Everyone has committed a crime, it's about who we decide to prosecute
Religion was born when the first con man met the first fool.
Education system should preferably create employers instead of employees.
I hope Americans adjusts themselves to http://en.wikipedia.org/wiki/Maslow's_hierarchy_of_needs
I hope Afghanistan rolls out http://en.wikipedia.org/wiki/The_Petroleum_Fund_of_Norway type of fund for its citizens.
I believe Outsourcing to India will be cheap http://en.wikipedia.org/wiki/Indian_human_spaceflight_program
Truth will win, if the arguments are in documented form.
Socialism is preventing race to the bottom.
Capitalism is promoting race to the top.
I believe we need both to build and sustain a great nation.
How is it different from http://lesswatts.org/tips/ethernet.php
The easiest way to get better pay is hopping jobs regularly.
And the additional advantage is you'll get diverse skills.
Sell Twitter to Google. They'll know how to generate revenue.
Under democracy in India, man exploits man. Under communism in China, it's just the opposite.
Social mobility(Canada) != Economic mobility(China)
http://en.wikipedia.org/wiki/Social_mobility
Voting in elections != Democracy
What India and China really need is http://en.wikipedia.org/wiki/Direct_democracy
Suicide != Sacrifice
http://www.indiatogether.org/2010/feb/psa-suicides.htm
How JP Morgan & Goldman Sachs made $100 million profit per day in the last quarter?
Here's a clip:
"Let's say that there is a buyer willing to buy 100,000 shares of Broadcom with a limit price of $26.40. That is, the buyer will accept any price up to $26.40. But the market at this particular moment in time is at $26.10, or thirty cents lower.
So the computers, having detected via their "flash orders" that there is a desire for Broadcom shares, start to issue tiny "immediate or cancel" orders - IOCs - to sell at $26.20. If that order is "eaten" the computer then issues an order at $26.25, then $26.30, then $26.35, then $26.40. When it tries $26.45 it gets no bite and the order is immediately canceled.
Now the flush of supply comes at $26.39, and the claim is made that the market has become "more efficient."
Nonsense; there was no "real seller" at any of these prices! This pattern of offering was intended to do one and only one thing - manipulate the market by discovering what is supposed to be a hidden piece of information - the other side's limit price!
With normal order queues and flows the person with the limit order would see the offer at $26.20 and might drop his limit. But the computers are so fast that unless you own one of the same speed you have no chance to do this - your order is immediately "raped" at the full limit price!
The presence of these programs will guarantee huge profits to the banks running them and they also guarantee both that the retail buyers will get screwed as the market will move MUCH faster to the upside than it otherwise would.
If you're wondering how Goldman Sachs and other "big banks and hedge funds" made all their money this last quarter, now you know."
http://www.counterpunch.org/whitney04162010.html
http://www.counterpunch.org/brown04232010.html
I think imposing http://www.sec.gov/answers/insider.htm restrictions on every Buy or Sell Order will fix this.
To Julian Assange:
Never talk to police. Let a criminal lawyer or some competent authority do the talking for you.
Cheers,
Mahadiga
What will an entrepreneur prefer? Open source or Closed source software to start his company.
Impose tax on 'idle' cash reserves.
I'd advice LimeWire to seek http://en.wikipedia.org/wiki/Privatizing_profits_and_socializing_losses from Obama Administration