Celebrity investor Mark Cuban reiterated advice to wait and watch in the stock market Tuesday, writing, "We have no idea what direction the market is headed," in images that surfaced online.
Cuban, renowned for his success founding and funding start-ups, told his followers that high-frequency traders (HFT) are dominating the stock market this week. In particular, he warns the computer-based rapid trading poses risks for investors, who can't act as fast as a machine.
"They [high-frequency traders] see what's happening and make bets on it before you do," Cuban wrote on Cyber Dust, an ephemeral messaging app. "So be careful in this market."