May 6th 2010 Stock Market Crash

On May 6th 2010, Ben squawks the S&P Pit CRASH Live. 10:54 cst, 13:42 cst, 15:14 cst - DAY SUMMARY

Ben is the voice of the CME S&P futures pit. This is the video endorsed by Ben and TradersAudio.com

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Ben Lichtenstein has appeared on CNBC and Bloomberg TV, has shared his expertise on Bloomberg radio, and has been published in numerous periodicals including Futures magazine and Stocks & Commodities. He is a member of the Chicago Mercantile Exchange with over 17 years of experience working on the trading floor.

The e-mini ES chart is a 4 tick price bar chart: 0.25, 0.50, 0.75, 1.00 - equals one bar. When the bar closes above the Dark Gray 13 EMA it turns Aqua. Closes below, it turns Maroon.

Chart Indicators From Top Left:
Daily e-mini ES pivot lines are; daily pivot (Black), resistance 1 (Red), support 1 (Blue), resistance 2 (Red). support 2 (Blue). Dark Gray 13 EMA. Light Gray horizontal line (with price) is todays e-mini ES High+Low/2. Light Gray horizontal line (no price) is yesterday's e-mini ES High+Low/2. Dark Gray 169 SMA

Free DAILY Equity Futures Support and Resistance Numbers (updated by 8:00 cst) http://www.TradersAudio.com/daily/index.php?page=support-and-resistance-numbers


For glossary of terms used http://www.TradersAudio.com/daily/index.php?page=glossary-of-terms


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TradersAudio.com broadcasts LIVE, via the internet, from the Chicago Mercantile Exchange S&P 500 Futures trading floor 8:30 - 15:15 cst Monday through Friday. Holiday schedule click here http://www.cmegroup.com/tools-information/holiday-calendar/index.html

TradersAudio.com subscribers are individual stock, futures and bond traders, fund managers, stock and futures brokers, futures analysts and corporate institutions in countries around the world.

The subscribers of TradersAudio.com are listening to the SP contract trading Live in Chicago - while watching the e-mini ES, another futures contract or stock on their computer.

The broadcaster may call the e-mini ES Globex contract, 'minis', 'the mini' or 'the screen'. Also, they may call the S&P CME SP Pit Traded contract, 'the big contract' or 'the S&P'. The broadcasters are calling the trades within a few feet of the S&P CME SP trading pit and are referring to the S&P CME SP June 2010 contract.

You are hearing the broadcasters quote the current bid and offer of the S&P CME SP pit traded contract - quickly. When they say '0 even bid at one half', that could mean 1080.00 is the bid and 1080.50 is the offer. But could also mean, 1090.00 is the bid and 1090.50 is the offer. They are broadcasting tick for tick and must quote the figures to stay with the pit action. When the pit is packed and active they may just say, '0 at half' or '20 bid at 70'. It is easy to follow along when looking at the e-mini ES chart and trades.

The prices you SEE in the video are the S&P e-mini electronic symbol ES, Globex June 2010 contract. The prices you HEAR are the S&P CME pit traded symbol SP, Pit Traded June 2010 contract. The two contracts trade within a tick or two of each other, during pit traded hours 8:30 - 15:15 cst.

The pit traders are trading the SP and may trade the ES also. When they do, the broadcasters may say 'they're trading the mini' or 'they just sold/bought the mini'.

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*This is not trading advice. These videos are for informational, educational and entertainment purposes only. Full product information on the S&P 500 Futures is available at the CME website http://www.cmegroup.com - We are not a brokerage firm, we do not take trading orders, do not execute trades or manage customer accounts. The Squawk Box is not trading advice and provided for informational purposes only. No claims or representations of profitability are being made herein.

Category:

News & Politics

Tags:

• futures
• fat
• finger
• stock
• market
• crash
• short
• shorting
• index
• indexes
• trading
• chart
• education
• training
• goldman
• sectors
• stocks
• trade
• traders
• S&P
• spx
• djia
• 06
• 2010
• dow
• jones
• 05062010

[shinobih2o]

WTF, is that a synthetic voice in the first 20 seconds? Looks like a computer talking; punctuationless, emotionless.

[tradersaudio]

@shinobih2o real person, been squawking for 10 years now, listen to the rest of the videos

[tradersaudio]

Thanks for all your encouraging comments - happy we are able to share this

[Kforkuzgun]

this was much better with the live index graph instead of posting some frozen graphs showing where the index is actually going.

[tradersaudio]

@Kforkuzgun Sorry, Anthony who produces the videos, did not record the chart during the 13:42 Crash. He only caught the morning open and afternoon close.

[SalvadorVeiga]

what kind of bars are the last ones? Range bars or Renko ?

[tradersaudio]

@SalvadorVeiga The e-mini ES chart is a 4 tick price bar chart: 0.25, 0.50, 0.75, 1.00 - equals one bar.

[riaamaan]

This squawk will be referenced for years to come. A spine tingling call of some of the most incredible action the market ever sees. Awesome job Ben.

[benjiheads]

some people would have gotten shafted that day massively, it would of be the same as walking into a dark room with your pants pulled down and some shuts the door and locks it behind you then you hear the sound of a 800lb gorilla !

[benjiheads]

ben said limit down 1053 price went to 1056 turned went straight up why ? supply /demand inbalance more demand price went up good day

[iketossia]

ssssssssssssssssssick, didn't know i could visit that day again, cars ha?

[66D5AVWP]

@shinobih2o lol ! But that video is even worst watch?v=dhoqDL9RSA4 The guy talks so fast !

[RequiemForChange]

dog track gambling with your jobs and lives....how american, i mean capitalist, i mean GREED!

[neilyeager]

@tradersaudio ... Ben, This is great stuff. I go back to this video often to remind myself of just how crazy that day really was.

[hephems]

Guys...Guys... Alienated people....

[KungFuChess]

great calling as always. he sounds likehe could have been squeaking in the pits back in the 1920's.

[whaler3232]

One word.....EPIC

[rodriguezge]

79S ARE TRADING!!!!!! What a ride