Archive - Jul 23, 2009 - Story

"Lime's familiarity with high speed trading allows us to benchmark some of the fastest computer traders on the planet, and we have seen CDT (Computerized Day Trading) order placement rates easily exceed 1,000 orders per second. Should a CDT algorithm go awry, where a large amount of orders are placed erroneously or where the orders should not have passed order validation, the Sponsor will incur a substantial timelag in addressing the issue. From the moment the Sponsor’s representative detects the problem until the time the problematic orders can be addressed by the Sponsor, at least two mintues will have passed. The Sponsor’s only tools to control Sponsored Access flow are to log into the Trading Center’s website (if available), place a phone call to the Trading Center, or call the Sponsee to disable trading and cancel these erroneous orders – all sub-optimal processes which require human intervention. With a two minute delay to cancel these erroneous orders, 120,000 orders could have gone into the market and been executed, even though an order validation problem was detected previously. At 1,000 shares per order and an average price of $20 per share, $2.4 billion of improper trades could be executed in this short timeframe. The sheer volume of activity in a concentrated period of time is extremely disruptive to the process of maintaining a “fair and orderly” market. This shortcoming needs to be addressed if the practice of Naked Access is going to be permitted to continue; otherwise, the next “Long Term Capital” meltdown will happen in a five-minute time period."

Zero Hedge presents Obama's take on healthcare reform as represented by popular movie culture. Mr. President, just as an FYI, the blue pill was (is) the wrong choice.

Morhpeus: This is your last chance. After this, there is no turning back. You
take the blue pill - the story ends, you wake up in your bed and
believe whatever you want to believe. You take the red pill - you stay
in Wonderland and I show you how deep the rabbit-hole goes.

As an aside: is America doomed to promote policy and relate to a mass audience only by anchoring to widely symbolic film narrative such as "The Matrix", "The Big Lebowski", and "Fight Club"

• US Initial Jobless Claims (Jul 18) W/W 554K vs. Exp. 557K (Prev. 522K, Rev. to 524K)
• "If there's a blue pill and a red pill, and the blue pill is half
  the price of the red pill and works just as well, why not pay half
  price for the thing that's going to make you well?"- Obama (Washington Examiner)
• Zero Intelligence trading closely mimics stock market (New Scientist)
• Jonathan Weil: Accountants gain courage to stand up to bankers (Bloomberg)
• Obama's Fed Risk Regulator plan fading as lawmakers back council (Bloomberg)

• ADB: East Asian economies may have 'V' shaped recovery.
• Asian stocks rise on yen; merging market stocks hit 10-month high.
• IMF says China has room for more fiscal stimulus through 2010.
• Iceland formally applies to join EU, faces talks on fishing rights.
• Japan's export fall by smallest margin in 6 months as recession eases.
• Weaker yen sends Japan stocks higher for seventh straight session of gains.

Porsche and VW can not stop playing "Dynasty," finally "do the nasty" and merge.

This man has managed to live without money... Could you?