"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Monday, August 6, 2012

Computer Shenanigans

What a morning.  Nasdaq failed to implement Reg SHO short sale restrictions on Knight Capital for 25 minutes this morning.

Then some bogus Twitter account announced Assad was killed.

And now finally the CME Group has restored its website but users are unable to download the Depository and Warehouse data.

The market is a mess.  Surely many of the participants will now understand why machine reading algo's can cause chaos to markets.  Many responders on my Casey Research Interview that was posted on ZeroHedge seemed to believe computer driven trading, news dissemination, and rule invoking are good things.  Yet this morning all three failed and left many people in an unnecessary position because computers caused a problem that human's couldn't have done on their own.