Saturday, October 11, 2008

Fridays Rally at the close


There was some great commentary of the action going on in the S&P500 pit on Friday.
Watch and Listen as One Paper buyer is responsible for 40 points of SP rally during the last hour of trading on Friday. (Broadcaster Ben says the guy was holding about 800 contracts on the way up. WOW!)

3 comments:

Anonymous said...

Now, that gets the blood flowing a bit.

Anonymous said...

I used to know guys that did that at the CME, and, unfortunately, you never know. Sometimes there are locals that use 2-3 phone operators on the floor to disguise orders, sometimes hedge funds use 3 locals and 4 phone guys, and the guy calling all this out is simply adding color, since he knows he will likely not get called out on what he says. Even the fed uses certain main phone lines, and when a guy from merrill signals into the pit, then you gotta make assumptions on the fly. It could also have been a guy selling on electronic and buying pit -- the scenarios get endless. late.

HPT on 9:14 PM said...

I agree. There a tons of games they could play, it pretty much makes the pit audio useless unless you believe everything you are hearing.

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