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Joined Apr 2010
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Status: these pretzels 'r making me thirsty
|65 Posts
wow i LOVE this
source: Dan Zanger website
For those that might be interested, here is a recording of the action in the futures outcry pit from the Chicago Mercantile exchange of the rapid plunge in the pit on Thursday. This recording is a bit choppy and needs to be run through once before listening to it, but it is worth it. The last two numbers that the announcer is talking about are the last two numbers of the cash contract of the S&P-500 June contract. This means that when the announcer cries out 75 that makes reference to 1075 of the S&P-500 June contract. I think you will hear clearly that this was no "Fat Finger" event from Citibank, but an outright panic from institutions around the globe.