Uploaded by tradersaudio on May 29, 2009
Listen as the Number 1 Local goes on aggressive offer.
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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.
Contact Ben directly: benl@tradersaudio.com
The ES chart is a 5 tick price bar chart: 0.00, 0.25, 0.50, 0.75, 1.00 - equals one bar.
TradersAudio.com broadcasts LIVE, via the internet, from the Chicago Mercantile Exchange S&P 500 Futures trading floor 8:30 - 15:15 cst and the Chicago Board of Trade Treasury trading floor 7:20 - 14:00 cst - Monday through Friday, for 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.
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
Listen to FAQ's (MP3 format) from TradersAudio.com subscribers http://www.tradersaudio.com/faq.html
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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Unrelated to this video, but as far as your News Beat, does that only stream when there's breaking news, it's not like a Bloomberg radio type stream?
TheShriekingShack 2 years ago
Today's close was fun ;) Care to post that? Heard JPM was a big buyer.
bswami50 2 years ago