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The FEDS balance sheet shows $883 billion in assets as of March 5th, 2008 How is it that you are not aware of this most basic fact?

You have stated that you do not TRADE for a living. May I ask what you do for a living that allows you to post over 10 times a day on a website such as this?

Wrong! The FED did not do anything close to this operation back in August. You need to check yourself AND the facts.

And unfortunately Americans voted in George Bush and all of his incompetence not once, but TWICE. So much for all of that Iraqi oil revenue to pay for "reconstruction" or pay for the War, or Rumsfeld saying that the total bill for the war would be just under $50 Billion. So far, we are...

Sad, but true. And Joe-6pack has no idea where Iraq is either, let alone the fact that "Operation Iraqi Freedom" has cost him $3,200 per year for the past 5 years . . .

I need to be brief, but basically the commissions for a pit trader are rock-bottom. For example, a "scratch" (buys and sales at the same price ) would be something like a dime per contract. When I started out back in 1984 my capital requirement was $20,000 But it is important to note that...

You can usually see what I am describing when CNBC shows footage of some of the pits at the NYMEX. Each trading ring is built on risers, with the each additional level increasing in height. The floor brokers are obviously up on the top step so that they can see their phone clerks and...

Buy a bicycle or moped. :)

No, I am not kidding. If you have ever been hit in the eye with the sharp edge of a trading card you will know what I am talking about. These "Sellers" cards are literally cascading down into the exchange reporters when trading is busy. The exchange simply can't risk a lawsuit for someone's...

In regards to the actual SPX cash index, I have found that the quotes on the trading floor are slightly faster since they are using a data-feed that calculates the actual S&P 500 index with a lot more frequency than typical data-feeds. A typical data-feed like E-Signal, Realtick, etc will only...

It's pretty funny how you BLAME Bernanke for everything given that the current Administration for the past 7 years has had no problem allowing the US Dollar to go into free fall . . . When Bush appointee Treasury Secretary Paulson said over the weekend in an interview that the Administration has...

If they even had half a clue they would be voting for Ron Paul in droves . . .

Traders get used to each other's style in the pits. You develop a fine ear for what is going on, and you know ( as in Baseball ) who is good at hitting a curve ball, who waits for the fastball on a 3-0 count, etc. Via yelling and eye contact, you enter into a trade with another trader...

Very true. The pit is FULL of information. You just need to be able to have a super quick brain ( and somewhat hyper ) personality in order to constantly "scan" what is going on. You must be able to PROCESS a lot of data and behavior very quickly . . . to that point where you simply REACT...

In order to be a "pit" trader otherwise known as a "local" you have to have a certain personality for it, in order to survive day in, and day out. It requires a tremendous amount of mental, as well as physical stamina.

Yes, but let's be clear about the NYMEX . . . it is mainly a "spread" market and locals trading "outright" long/short is extremely rare.

As a former pit-trader in NY, I can honestly say that Pabst hit the nail on the head with his summary above. There is nothing like seeing the pit get loaded up on the "short-side" while strong fund buying comes in via floor brokers, only for cash to surge a few moments later and "locals" go...

KA-CHING!!! :p

You are about 24 hours too late. He said this yesterday and used his "CAUTION" hat to make his point. (Doesn't anyone actually TRADE for a living on ET, or is everyone a "wannabee" that looks at quotes that are an entire day old? Did you just replay your TIVO now? WTF??? ) Perfect...

Please enroll in an Economics course that covers the Fed and Monetary Policy. You have been asking some of the most idiotic questions today. The Fed has nothing to do with commodities and 99.9% of the people out there understand this.