Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: Notesfiles; site gypsy.UUCP
Path: utzoo!linus!decvax!bellcore!ulysses!allegra!princeton!siemens!gypsy!rosen
From: rosen@gypsy.UUCP
Newsgroups: net.invest
Subject: Mechanics of Commodity Pits
Message-ID: <29900008@gypsy.UUCP>
Date: Thu, 20-Feb-86 15:08:00 EST
Article-I.D.: gypsy.29900008
Posted: Thu Feb 20 15:08:00 1986
Date-Received: Mon, 24-Feb-86 07:14:05 EST
Lines: 33
Nf-ID: #N:gypsy:29900008:000:1300
Nf-From: gypsy!rosen    Feb 20 15:08:00 1986



I've always wondered about this and I was wondering if someone could explain
this in more detail.

I was wondering if someone could provided a fairly detailed explaination of
what is going on in a commodity pit such as you often see on television.  Of
course I know that these people are buying and selling commodity futures,
but I was never quite sure of exactly why they were so physical.  For
instance, why are they so aggressive and always yelling and pushing and
waving their hands frantically?  They always have a pencil and paper in
their a hands, what is it that they are writing down?  Who are they yelling
at (you never see that person) ?

I saw a TV show once that interviewed a female commodity trader and she was
saying that in the past 15 years she had two broken toes and a broken elbow
and bunch of bruises to show for her work.  Are these people playing
football or are they making financial transactions :-) ?  What I am actually
after is learning about the actual mechanics of the pits.  Could someone
shead some light on this?

----------------
| Steve Rosen
| Siemens Research and Technology Laboratories
| Princeton, NJ

USENET:    adrvax\
            ihnp4 |
        princeton |-->!siemens!gypsy!rosen
            topaz |
           vrdxhq/

ARPA:   siemens!gypsy!rosen@TOPAZ