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It's a long-standing joke that the young locals trading the S&P E-minis
at the CME trade like it's a video game. I didn't realize how true the
joke is until I saw some scenes shot from the CME today on CNBC. There
was one closeup shot that would look familiar in any home with
teenagers. There was a young guy kicked back in a chair, with a video
game controller in his lap, furiously punching buttons with his thumbs.
The only difference was the guy was wearing a local's jacket and his
screen was a Globex terminal. I don't know if the CME supplied the game
controller or he brought his own. He had a birdseye view of the hand
signals going into the S&P pit, as well as his screen showing the deep
book for the minis, and was letting his thumbs do the talking.
Moral of the story.... anybody who thinks he can scalp the minis for a
few ticks from home had better know what he's up against and think
twice.
--
Dennis
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