Great Trading for 'Bots

The big event today was the minutes of the July Fed meeting, but it really didn't matter. Market commentators were intently focused on any hints as to the timing of the tapering of bond purchases and tried to make profound observations, but we really didn't learn anything new. It was a meaningless news event, but it was a great catalyst for wild computerized movement.

The standard scenario on news events these days is to take out a key technical low to the downside. Today, it was the intraday low at $164.57 of the SPDR S&P 500 (SPY), which triggers sell stops and a spike down. The buy programs then load up and take indices straight back up through the day's highs, which triggers the buy stops and squeezes the shorts....965 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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