Q: Trackpad Error

I'm having the same problem. Did you upgrade to ML 10.8.4 today?

There are several possible causes for this issue. Take each of the following steps until it's resolved.

1. Follow the instructions in this support article.

2. Boot in safe mode and test, preferably without launching any third-party applications. If you don't have the problem in safe mode, but it comes back when you reboot as usual, stop here and post your results. If you can't boot in safe mode, do the same. If you booted in safe mode and there was no change, go on to the next step.

3. Reset the System Management Controller.

4. If you're using a Bluetooth trackpad, investigate potential sources of interference, including USB 3 devices.

5. A swollen battery in a MacBook Pro or Air can impinge on the trackpad from below and cause erratic behavior. If you have trouble clicking the trackpad, this is likely the reason. The battery must be replaced.

6. There's a report that a (possibly defective) Thunderbolt Ethernet adapter can cause the built in trackpad of a MacBook to  behave erratically. If you're using such an adapter, disconnect it and test.

7. There's also a report of erratic cursor movements caused by an external display that was connected but not turned on.

8. If none of the above applies, or if you have another reason to think your computer is being remotely controlled, remove it from the network by turning off Wi-Fi (or your Wi-Fi access point), disconnecting from a Bluetooth network link, and unplugging the Ethernet cable or USB modem, whichever is applicable. If the cursor movements stop at once, you should suspect an intrusion.

9. Make a "Genius" appointment at an Apple Store to have the machine tested.

Update: I tried all the suggestions provided by Linc without success. I ended up at the Genius bar, they tested the trackpad, and even when it passed the test, there were a few spots that didn't work properly so I had it replaced. After $90, and two days of using the laptop, I haven't had any more problems!