Aggressive Paper buyers. Listen when buying slows or backs off.
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The ES chart is a 5 tick price bar chart: 0.00, 0.25, 0.50, 0.75, 1.00 - equals one bar.
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The broadcasters may call the S&P 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 2009 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 1280.00 is the bid and 1280.50 is the offer. But could also mean, 1290.00 is the bid and 1290.50 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 ES chart and trades.
The prices you SEE in the video are the S&P e-mini (electronic symbol ES) Globex June 2009 contract. The prices you HEAR are the S&P CME (pit traded symbol SP) Pit Traded June 2009 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'.
Click here for more information: http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_FO.html
The subscribers of TradersAudio.com are listening to the SP contract trading Live in Chicago while watching the ES, another futures contract or stock on their computer.
*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.
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9:37
S&P May 12, 2009 8:35 cst - TradersAudio.comby tradersaudio237 views
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