High frequency trading (HFT) comprises 60 to 73% of U.S. trading volume, according to estimates. The new winner in the fast money game is Goldman Sachs. It supplanted JPMorgan. Bloomberg reported:
Goldman’s technology and its access to a large pool of potential buyers and sellers help it to search for -- and find -- liquidity at the best price for customers.
This golden egg might not last. Talk of a trading tax has stock flippers worried. Who knew it would become passe to hold a stock for 5 days? Apparently stocks don't get better with age, like cheese, wine or cognac.
Update: May 6, 2010. ZeroHedge writes "The Day The Market Almost Died (Courtesy of High Frequency Trading)
