The Best Ten Minutes You Will Spend This Weekend

If you do nothing else today, listen to this audio clip of Thursday’s crash live from the S&P 500 futures pit in Chicago.  Pure, unadulterated adrenaline and chaos.  Pure. 
$b6eb72a0f2f1e29f3d4","playlist":[{"url":"","autoPlay":false}],"clip":{"autoPlay":true},"canvas":{"backgroundColor":"0x000000","backgroundGradient":"none"},"plugins":{"audio":{"url":""},"controls":{"playlist":false,"fullscreen":false,"gloss":"high","backgroundColor":"0x000000","backgroundGradient":"medium","sliderColor":"0x777777","progressColor":"0x777777","timeColor":"0xeeeeee","durationColor":"0x01DAFF","buttonColor":"0x333333","buttonOverColor":"0x505050"}},"contextMenu":[{"":"function()"},"-","Flowplayer 3.0.5"]}" height="24" src="" type="application/x-shockwave-flash" w3c="true" width="350">
For those unfamiliar with the lingo, he’s leaving off the first two digits, so when he’s saying “91 even bid” he means 1091 in the SPX futures.  He says “even” because they were just trading in whole numbers, not sub-dollar increments.  Note that at the peak panic they were ten points wide: 1060-1070.  This is for one of the most liquid increments in the world.  Look back over the last several months and see how many days we had where the S&P500 didn’t have a 10 point range for a whole day – and this was the bid-ask spread.
Also, note, that this is an old school, auction market.
(if the embedded audio above didn’t work, click here)
EDIT: The voice is Ben Lichtenstein of Trader’s Audio. Well done, Ben. One for the ages.


Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to If you click on my links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Kiddynamitesworld Blog