Hacked

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Hacked We have heard about computer hackers from the Chinese Army hacking US corporate secrets to Target customers personal information and everything in between. Now with the markets focused on HFT firms and how they are rigging the stock market, it was quite odd to read today how one HFT company was itself hacked. Surely this irony put a few smiles on faces today. Bloomberg reported the following story - Hackers rerouted information about a hedge fund's high-speed trades last year to offsite computers, a security official with BAE Systems Plc said. The hackers sought out monetary gain, targeting the hedge fund's trade order entry system and adding gaps to the company's trading algorithm, Paul Henninger, global product director at BAE Systems Applied Intelligence, said in an interview. The attack slowed down high-speed trading at the hedge fund, which BAE wouldn't name. "This is the first time we've seen criminals actively go after a business system and effectively take over that system and create sabotage," said Paul Henninger, global product director for BAE Systems Applied Intelligence. The attack was going on for eight weeks and BAE was called in by the company at the end of 2013, Henninger said. "It has all the signatures of an organized crime attack," he said. • *HACKERS PENETRATED A LARGE HEDGE FUND, BAE SYSTEMS TELLS CNBC • *BAE SAYS HACKERS STALLED HIGH-SPEED TRADES AT FUND: CNBC • *ATTACKS DELAYED TRADES BY MILLISECONDS, BAE'S HENNINGER SAYS • *HACKERS SAID TO SEEK MONETARY GAIN IN ATTACK ON HEDGE FUND: BAE • *HEDGE FUND HAD TRADING SLOWED BY HACKERS IN 2013, BAE SAYS • *HACKERS REROUTED HIGH-SPEED TRADING INFORMATION, BAE SAYS • *ATTACK ON HEDGE FUND WENT UNDETECTED FOR EIGHT WEEKS, BAE SAYS • *ORGANIZED CRIME SAID TO BE BEHIND HEDGE FUND HACKER ATTACK So organized crime is now hacking organized crime (on Fraud Street)? Who wants to bet me that the hackers were not the mafia, but rather a competing HFT firm?!? Read Past Issues of Larry's Newsletters at TradeWithLarry.com

We had a pretty choppy session yesterday. The trading range was tight, and really have no extension in either direction. While the DJI and SPX closed in positive territory, the COMP finished in the red. Surprising after a fairly volatile session the day prior, we could see more activity today. I suspect we can rally early on, but fade later in the day from mainly profit takers. That being said, buying is the way to go for the time being, and any drop in stock prices could be perceived as a buying opportunity. Read More

TECHNICAL DATA ES 1950.50/1946.50 POC 1950.00 YM 16831/16795 NQ 3795.50/3781.50

We often talk about how options afford our students flexibility. It also affords leverage. Even in the most simple form, options can really free up capital in your account. Here's a real example from today in class. We have a student who has a long equity position in Splunk (SPLK). SPLK is a technology company whose products enable users to collect, index, and search, explore, monitor and analyze data regardless of format or source. The Company's products address large and diverse data sets commonly referred to as big data and are specifically tailored for machine-generated data. She wanted to free up some capital and intended to hold the position until January of 2015. Read More

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