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« Myths About Recessions | Main | Fasten Your Seatbelts! » January 22, 2008 This Is Why I'm Not a TraderWarning: The F bombs reach Big Lebowski levels. Welcome to the world of futures trading. I’ll try to translate what’s going on. It looks like he's long 10 E-mini futures contracts of the Russell 2000, that’s what the ER2 means. They’re traded almost all day on the Globex. The contract was, at the time, down about 24 points. So he’s out about $24,000. But it’s possible that he put up as little at $68,000. In other words, he’s so fucking fucked right now it’s un-fucking-believable. Update: Bess Levin calls him a fake. Posted by edelfenbein at January 22, 2008 12:48 AM |
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