Don’t let the headlines completely fool you. Yes, there were huge losers this morning when the Dow Jones industrial average collapsed 1000 points in the opening – but this market free-fall was merely the first act in this financial drama.
By the time the final bell rang, the real Wolves of Wall Street had a very good day indeed…
Pundits and marketeers went hysterical today, as US stocks tanked, rebounded and then slid again.
It was a devastating drop to be sure, but make no mistake about it: giant fortunes were made as speculators grabbed cheap stock bargains to ride the market – and profits – on the way back up. Stock trader Alessio Rastani said it best when he revealed the true secret to Wall Street wealth:
“Personally, I’ve been dreaming of this moment for three years…I go to bed every night and I dream of another recession. When the market crashes… if you know what to do, if you have the right plan set up, you can make a lot of money from this.”
In China, the news wasn’t so promising…
“The Dow Jones Industrial Average slid 589 points to close at 15,873 on Monday after plummeting 1000 points just minutes after New York Stock Exchange opened. The Dow nearly clawed its way back to even by 1 p.m. but then slid again. (The S&P and Nasdaq narrowly avoided closing 10 percent below their 52-week highs.) Fears of a Chinese economic slowdown led the Shanghai Composite index to dive 8.5 percent in what state-run media called “China’s Black Monday.” Markets in Hong Kong, Japan, and Europe all tumbled; a combined $5 trillion was erased from global equity markets in the turmoil.” (Source: Daily Beast)
Was this a real market event, or was it an engineered, speculative feeding frenzy?
‘Speculative Rebound’: Dow Jones Just Made The Largest One-Day Round Trip EVER
Global Research says…
This Came hot on the Heels of the largest weekly increase in volatility in history.
Brilliant analysis by Washington Blog: the figures speak for themselves.
Monday August 24, 2015: Massive Decline of the Dow and then Partial Recovery on the same day,
The free market mechanism or a carefully engineered speculative rebound?
The Confiscation of Financial Assets resulting from stock market manipulation. The Massive Appropriation of Savings.
Billions of dollars of wealth moving from one hand to another.
– Michel Chossudovsky, GR Editor
The U.S. stock market just took the largest roundtrip ever. Specifically, in the first 3 hours and 40 minutes of trading today, the Dow posted the largest intraday swing in history: