The forum discussing HFT lately has been muddied by arrogant, ignorant, manipulating, and in some cases trustworthy human beings. The sad part is that although many of the intelligentsia that opine on the topic are highly educated, we have a nation full of complete idiots, that know more regarding the Kardashian wedding. This week I heard more nonsense being spewed over the airwaves regarding the Bill vs. Jet's game than I heard regarding the complete and utter breakdown of the HFT program. What I'm referring to is the Oct 19th Envestnet event recorded by Nanex where the stock plunged from $9.48 to $0.02 in 1 second and then quickly recovered in per-market trading, luckily it didn't gap down or numerous prop traders and others alike would have been caught "slippin".
ENV - Envestnet - $9.48 to $0.02 in 1 second
2 Minute, 34 seconds, 400 milliseconds
ENV - Envestnet - $9.48 to $0.02 in 1 second
1 second, 625 milliseconds
Either way, whether you actually give a shit about events that can truly effect your life and well being or you focus on the nonsense distractionairy story line of some ditz's life, the following PDF is for you. What you now have at your finger tips is the soon to be infamous "Bibliography of Evidence-Based Research on High Frequency Trading" created by R.T. Leuchtkafer. This document came to our attention courtesy of the clean cut creative geniuses over at Themis Trading.
