this would have been in the 80's when he was a runner. i guess people were a bit less careful how they treated folks back then!! like how does how many tacks you can pull determine how good a trader you will be?? sorry to bring a downer on a funny thread. my boss (not his boss!) was actually a real nice dude when out of the pit. when he was in it you just didnt want to be near him. jackyl & hyde. im surprised he would work for such a twonk.
I bet most of the jokes went on in bull markets and not bearish markets. I bet most of the jokes and comedy stuff went on during of close to a bull market??? Iwould bet that almost 90% of the funny stories happened when people in the markets were making a lot of money. Next time you see things like this going on it is just anotehr sign that there is a strong market at hand. There is still funny stuff now but not nearly as much as 6 years ago when people would take sort postions for people while they were out to lunch and not even tell them. LOL
Okay, time to get upbeat again. One morning back in 99, trading was sort of slow, so I left the trading floor for a break. I came back 10 minutes later and the S&Ps were trading 2 or 3 handles lower and were moving a little bit. I asked the guy next to me if anything was happening. He said yeah, I missed it all. Robert Rubin announced his surprise resignation. The market sold off 15 handles in a heartbeat, paused, and rallied back 12 handles. A large trader in the pit sold all the way down. Guys figure he was short 600-800 big S&Ps all the way down. He bought them all back at the low and then started buying all the way up. By the top, he was probably long 600 contracts. It took all of about 5 minutes. Some of our guys were talking to his trade checker the next morning. The trade checker said the trader walked away from the day up 122,000 ticks. One S&P tick is worth $25. This all happened while I was in the bathroom.
Good Story. Was Buzzy Schwartz still trading then? Sounds like something he would pull off (just from reading his book, don't know the guy).
have one bettter at broadway george west left his positions to have a cigar ...when he returned be was down 1,000,000....prett expensive habit dont u think???
I was trading prop from home. One houer before I started to trade, I ate a salad with a very bad sauce. I was in a trade and had to run to the toilette because my stomach was craying.... When I came back, I was 5k down because of bad news. Upssss So now I never eat salad while I am trading
I was at Swift Trade last summer, trading at the "Elite" franchise's "headquarters" in Mississauga. There was one guy there who was generally a quiet guy - except when a trade went against him. One day, he was long PFE when the markets turned. He kept averaging down thousands of shares at every support level that got broken, all the while jumping up and down in his seat, screaming in a mousey voice, "Go up Futures! Go up!" and "No! Stop falling! Go up!". He gradually acquired a rather large position that kept getting away from him. Eventually, the markets retraced a bit and he was able to clear out his position with a couple ticks above his average price on an incredibly large position. Though it was annoying to have to listen to him while the rest of us were trying to trade, it was hilarious watching him beat himself up like that at every downtick, rather than take a small loss early on and reversing his position. Yet, what was funnier than that was when it was all over, he got up from his station, walked off with a big grin on his face, and said, "I just made a 1,000 bucks!". Talk about Jeckyl & Hyde. What is the funniest part of this story is that he was the so-called "Elite" network's best trader.