Yeah, but you have to admit that this is pretty skilled sensationalist journalism :P
How convenient Nanex didn't include labels in the graphics they provided! [1] In fact, they specifically say that high frequency trading doesn't concern them, and are talking about quote spamming. Not. The. Same. The animated graph used in the article combines metrics of both, as far as I can tell, but Nanex makes it clear that High Frequency Trading is stalled or declining while High Frequency Quoting is on the rise.
Furthermore, the bit saying "activity becomes much, much more frenetic and erratic" is just... totally silly. Partly because of what you mentioned, but also because... well I don't know what else to say, it's just so utterly, embarrassingly silly. I'd wager the graph's movement isn't even nearly as 'frenetic' as the stock market itself.
In any case, it's quite clear that the author didn't even peek at the page he got the graph from.
How convenient Nanex didn't include labels in the graphics they provided! [1] In fact, they specifically say that high frequency trading doesn't concern them, and are talking about quote spamming. Not. The. Same. The animated graph used in the article combines metrics of both, as far as I can tell, but Nanex makes it clear that High Frequency Trading is stalled or declining while High Frequency Quoting is on the rise.
Furthermore, the bit saying "activity becomes much, much more frenetic and erratic" is just... totally silly. Partly because of what you mentioned, but also because... well I don't know what else to say, it's just so utterly, embarrassingly silly. I'd wager the graph's movement isn't even nearly as 'frenetic' as the stock market itself.
In any case, it's quite clear that the author didn't even peek at the page he got the graph from.
Ugh. This kind of 'journalism' makes me sick.
[1] http://www.nanex.net/aqck/2804.HTML linked all-too-subtly in the article