I was sitting in my car when the market went crazy today. I’m glad I was. My BP and GS stocks have been battered enough over the last few weeks. I didn’t need the excitement of today. Some of the blame for the wild gyration is placed on computers.
From Reuters: But the follow-through selling that pushed stocks of some highly regarded companies into tailspins exacerbated concerns that regulators can quickly lose control of the markets in a world of algorithmic trading. High-speed trading, which uses sophisticated computer algorithms based on specific scenarios to automate transactions at speeds in the millionths of a second, now accounts for about 60 percent of U.S. equity volume. (read the entire Reuters story embedded below.)
My Lee County Farmer’s Market shares dropped to 2 cents a share. I am ruined. I went to plunge to my death off the tallest tower in Lee County. But i kept slipping back down, (Heres a hint buddy row… those grain silos are pretty damn slick.)
Luckely the market righted itself and my shares soared to 2.5 cents a share. So i am rolling in the money again.
To all of you who are worried… Dont worry. I will be okay.
BAMA SUCKS.
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