Crash Profits – Make Money When Stocks Sink and Soar : [PDF Download]

PDF Title:Crash Profits
Author:Martin D. Weiss
Total Page:368 Pages
PDF Size:2.46 MB
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““Black Monday, October 19: The morning papers give no inkling of the impending disaster. But the market plunge begins immediately, sinking steadily throughout the morning. By early afternoon, the selling is so hectic the New York Stock Exchange’s new, highspeed computer falls behind by a record 85 minutes.

Even without counting the backlog of sell orders, the trading volume is plowing right past its previous record of some 340 million shares, and there are still three hours of trading left to go. “3:30 P.M.—still Black Monday: The final rally attempt has collapsed.

The market is cascading in a climactic panic finish, led by heavily indebted Wall Street firms threatened with financial ruin. No one knows where the market is or what price they’d get for their shares.

Investors who punch in stock symbols on their quote machines are being given prices that are up to three hours old, the equivalent of months in a normal market. But these investors are selling anyhow, glad to get out at any price.”

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