remember the 6 May 2010 cascading flash crash in the New York Stock Exchange?
buying and selling on the ASX market?
Welcome to the world of 'wild algos' algorithmic trading (very very fast computer trading programmes of when to buy and sell) or high frequency trading.
In Australia, ABC reporter says accounts for 30% of trades.
At about 2 p.m., as protests in Athens over the Greek debt crisis turned violent, the euro fell sharply, especially against the yen...
...The 'flash crash' was cascading sales orders magnified by algo trading. And a taste of bigger things to come as the underlying bear market trend resumes over coming weeks and months.
the 6 may 2010 cascading flash crash
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