Looks Like Ms. Shell is out of a job due to Knight
Post# of 11899
Looks Like Ms. Shell is out of a job due to Knight's "glitch."
Knight's algorithm acted as a market order... gone horribly wrong. what the algo did with furious repetition and steadfast consistency was to buy at the offer, and sell at the bid, in other words buy high and sell low. Over and over and over and over .
I wonder if this was a real glitch or a human glitch. Maybe, somebody was able to get into the program and re-calculated the time at which the program was to "buy high" and "sell low" so that the program did what it was told, only at a much faster rate. Thus bringing the right amount of attention to MM we know as nite... Bazinga Baby!