Jim Cramer rails on machine trading — 'the whole darned thing is a travesty'
"It's a rotation based on the idea that the economy's in better shape than the bears thought," the "Cramer blamed the errant jumps in the transport stocks on machine trading, calling the buying "robotic."
There are both advantages and disadvantages to what's known as machine or automated trading, where computers monitor and execute transactions for traders based on a set of established rules. On the cons side, the machines are at risk of performing poorly and must also be monitored. Cramer contemplated that the real problem is the inability of the machines to "moderate their own buying."
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