thank you HEALYN, sounds very plausable. "Simply put, an...

thank you HEALYN, sounds very plausable.

"Simply put, an algorithm -- first identified by a 9th century Arab mathematician -- is a series of calculated steps strung together to produce a desired numeric goal. Now, these formulas are used to buy and sell large blocks of stock that have been traditionally shopped around traders on the floor of the NYSE or through Wall Street brokers.

Trading algorithms automatically break up large orders into bite sizes and feed them directly into the market. But they can be tuned to execute almost any strategy. Some aim simply to capture the average price over a day, others to gain an edge by, say, trading more heavily at the opening and close, when volume is high, and less when it slows down around lunchtime. And they can be customized, for example, to sell stock stealthily over several weeks if a manager holds a 3% position in a particular stock and wants to cut it to 1%. Not only is algorithmic trading in principle more secure than using a human broker but it also costs less than a penny a share to trade electronically, vs. 6 cents for full-service trades, which include research."
so now we all know - someone needs the cash. and GXY has been slightly selective with the "sophisticated investor"
ph