  A new simple model of financial market is proposed, based on the sequential
and inter-temporal nature of trader-trader interaction, and on a new simple
trading strategy space. In this pattern-based speculation model, the traders
open and close their positions explicitly. Information ecology is strikingly
similar to that of the Minority Game which suggest to reinterpret the latter as
a model of synchronisation of predictability exploitation. Naive and
sophisticated agents are shown to give rise to very different phenomenology
