I was a bit surprised to see the paint slipping off the tape today, in the face of slack domestic US economic news. People cannot spend what they do not have.
High Frequency Trading, as it now stands, is institutionalized corruption of the markets, and it is killing them. The SEC is looking at it, but it is hard to imagine that they will do anything meaningful in the way of reform.
Those who 'own' the exchanges are operating them as their personal casinos, front running and skimming customers at every turn, and they generally get their way with these regulators in the States.
The market was sluggish today. Let's see if the bulls can whistle up a rally next week on these light volumes.
