In my 33+ years in and around the financial arena, I was recognized for being able to foresee the crash in 1987, the Internet bubble burst in 2000 and the worldwide financial crisis in 2008 (I also managed to make and lose millions personally, not once, but twice in that time and why I added “former” to the long-standing “Wall Street Whiz Kid” moniker of mine).
For months now, we’ve watched the U.S. stock market rise without even a 5% correction. It also always comes back from a significant decline, almost on cue. It’s as if it was being manipulated by something like never before seen in my 33 years,
It is and it’s a 21st-century phenomenon called algorithms.
I’ve stated I’m out of the “Soothsayer” racket for a few years now, but I’m going to put my old Sage hat and make like its “Old-Timers Day” at the Wall and Broad Street Stadium.
What this gentleman spoke about a few years ago, and especially what this trader spoke about regarding last week’s silver flash crash (the computers are now faster than the markets themselves – danger), will be among the signs that will be looked back on when the “Sons of Hal” take down the financial markets in the next worldwide crisis.
The 21st century Hal’s of the world are presently playing on your side. But when they eventually switch sides, all Hell will break loose.