An interesting day yesterday. The S&P had a nice big rally yesterday and now sits above 1575 in the pre-market trading:
There was a bit of panic at one stage and we had a 'flash crash'. A fake tweet from The Associated Press' account which had been hacked sent the markets tumbling for a very short time. The tweet said that the White House had been attacked and that Obama was injured. Have a read of this, it's quite interesting:
The interesting thing here is that the tweet was picked up by the automatic trading bots. These bots now read news feed and are programmed to recognise good and bad news. A few years ago, I was amazed when I heard that bots could effectively 'read' the news and trade it but there's since been a few cases where it has gone haywire and in some ways, it's a little refreshing to know that computers are not yet as advanced so that they can replace humans.
On Betfair, I had a couple of wins and a small loss in the place markets resulting in an overall profit of 26 quid. Nothing to get excited about but it's still early days on this particular strategy.
Little and often soon adds up
9 hours ago