HFT is indeed theft, here are some links from zerohedge.com that give the basics of the practice and why it is a crime against business, the stock market, and the individual:
Thanks to both of you for the explanations. However, I must point out that, so far at least, no government regulator seems to consider HFT to be a crime.
I agree that HFT is theft, it may be legalized but it still is... I also have a ‘beef’ with the Market-makers who control where a stocks value goes rather than letting the market decide impersonally.
I’ve been watching a stock lately that has 20 Million shorts against it and the market maker consistently manipulates it to keep the value of the stock from rising. It just one of the reasons why I no longer actively trade. I bought some long term holding and an just going to hold them for a few years.
Maybe it’s not the smartest strategy, but I no longer want to pay fees to brokers that are intent on thrashing the stack market to death.