Although if you read the article regulators actually aren't asking to see Renn's code, they're just responding to a rulemaking proceeding. Talk about a misleading headline....and a bunch of you happy to be misled.
No you just add a couple of extra lines:
On dip In market:
buy = True;
dip()
IF bearmarket:
On bump In market:
sell=True
bump()
%%Although if you read the article regulators actually aren't asking to see Renn's code, they're just responding to a rulemaking proceeding. Talk about a misleading headline....and a bunch of you happy to be misled.
%%Apparently no one remembers what happened to LTCM when they opened they book.
%%
Actually,birzos i did not remember it that way. You maybe right ?? I remembered it the smartest guys in the room, used/kept using insane leverage + Fed arm twisted private sector liquidation/fix . And well the FED should.
I wish JPM would have offered BSC[BEAR] more than $2 @ share but like JPM CEO Diamond said ''you dont pay Up for a house on fire ''unquote Did raise the bid a bit later LOL
What are you talking about? LTCM made highly leveraged fixed income arbitrage bets that blew up with the Russian financial crisis in 1998. "opening the books" didn't have anything whatsoever to do with them!Apparently no one remembers what happened to LTCM when they opened they book.
What does "over leveraged on technicals" actually mean?Yes LTCM over leveraged on technicals and were burnt by human nature but that's not the point, they had to open their books and then the frontrunning started. Life is very simple, if you don't keep it closed someone else will make sure that they benefit from it at your expense. So then either RenTec are frontrunning (most HFTs do), the regulators want to keep their jobs, someone wants their code. When the information goes public it's at least two of them!
My guess is that they fully believed in their technical analysis without enough regard for human nature and the random nature of the market when you have so many participants. Its like a retail trader convinced that something has to happen because of how perfectly set up the move is, but then of course something else happens.What does "over leveraged on technicals" actually mean?
Can you not read? The Russian financial crisis happened. It had absolutely nothing to do with someone getting access to their "secret sauce".My guess is that they fully believed in their technical analysis without enough regard for human nature and the random nature of the market when you have so many participants. Its like a retail trader convinced that something has to happen because of how perfectly set up the move is, but then of course something else happens.
Sounds like for LTCM, the opposite of what was supposed to happen actually happened if someone else found out what these guys were doing. I think its kind of like during WWII after the alies were able to crack codes and track the U-boat movements. They always knew where they were going to be, even though the U-Boats had no idea their positions locations were compromised.