70% of stocks traded are held for an average of 11 seconds [View All]

[spinbaby]

That figure is mind blowing. High-frequency traders with ultra-fast computers are nothing but money harvesting operations that scam money off the rest of us. I found this article today that makes my blood boil.

http://www.wallstreetdaily.com/2011/04/04/high-frequency-trading-computers/

From the article:

Essentially, the problem stems from the fact that most of these HFT firms identify the same signals – and then trade on them together. So when signals are tripped, HFT firms all pile in at once to buy or sell.

This activity changes the price of the stocks in question and creates a self-fulfilling trend that earns profits for the HFT firms.