June 5, 2013
I was watching CNBC this morning when they started talking about how some people traded over 30 million shares milliseconds before the market officially opened for business at 10 AM et. This high frequency trading has got to be stopped. Using algorithms to buy and sell equities is patently unfair for those of us who do not have access to such expensive and sophisticated equipment.
I used to enjoy buying and selling a few shares of this or that company. However, now it's almost impossible for the average person to invest his or her money in stocks. The "playing field" is not level. We have no chance to succeed in our desire to "make a buck". Allowing this benefit for the rich and powerful is no way to run an enterprise like the stock market.
Please take some action! As one of the people on TV said this morning: this kind of trading has been on the SEC's radar for years. But as yet, no action has been taken. As we all know, actions speak louder than words. I'm listening and will be watching for some oversight....
Thank you,
Frederick M. Connolly