I’m watching CNBC. I haven’t watched CNBC in years. I see they have gone even farther into the realm of Monday Night Football as far as the look and feel. The sound effects everytime a new frame comes on the screen, the random chatter in the back as if you are standing in the middle of a busy trading floor. It kind of reminds me of a casino. Do you all remember the movie with Michael Keaton, “Live From Baghdad”? There was a scene in the movie where they were filming a protest against America in Baghdad. The girl in the movie (can’t remember her name) makes the comment that as long as the camera’s are on they protest but as soon as the camera’s go off, the protestors all pack up and go home. I always imagine that that is how it actually is on the commodities trading floors. As long as the CNBC camera’s are on they are shouting out bids and offers, and jostling with each other and making it look like total mayhem, and then the camera’s go off and the environment takes a complete 180. Can you imagine it…“Hey Bill…how are the wife and kids…ummm…how bout selling me 100 of those oil contracts you got there…how much you want for them Bill?”
Have you ever been in the pits? My one day makes me an expert. They trade like crazy for a few minutes then walk away and drink coffee and then at some seemingly random time they get back in and do it again. Very odd.
I swear I think the crazy trading is timed for when the CNBC camera’s turn on.
about 10 years ago I visited the CME floor (eurodollars) and it seemed chaotic with people running around and yelling everwhere… and it was on an extremely quite day. I think it was an early close and the mkt moved in a 1.5 bps range. Couldn’t imagine what it must have been like after NFP.
I got on the CME floor not too long ago. Some of the college girls in the party sparked some cat calls, whistles, etc. It may have even stimulated the market some.
Another random thought from a sick guy sitting at home watching CNBC for the first time in about 6 years. That Erin Burnett is quite the looker. Kind of like Maria was about 8 years ago…before she started looking all used up.