1928: The rise of giant merchants

At 9 a.m., the U.S. stock market opened, and the New York Stock Exchange gathered unprecedented traffic.

Countless speculators are waiting eagerly to see whether the stock market has reached what economists call a bottoming out stage.

Liu Xuenong took the millions of dollars he got from Edward and was under tremendous pressure, waiting for the final moment of counterattack.

Ye Luo, who received US$58.7 million through mortgage, immediately rushed to the New York Stock Exchange and followed the flow of people into the trading floor.

Huixin didn't come this time. She had to rush to Hollywood to attend the opening ceremony of RKO, and also received Lin Ruxian, the proprietress of Yip's Film Company, who flew in from the Republic of China.

The newly appointed trading minister welcomed Ye Luo into the VIP room, expecting the financial tycoon to inject funds into the stock market to relieve the recent pressure.

However, the first words Ye Luo spoke made him faint.

"Sell all the stocks in my name and inject cash into the margin account."

"Mr. Ye, don't you plan to buy the bottom now?" the new trading minister couldn't help but suggest, "Today's opening, the Dow Jones index was only 312.1 points, the lowest value this year, and all stock prices have almost reached the lowest value this year."

"What I need is a trader who can help me work, not point fingers at me." Ye Luo interrupted him rudely and impatiently.

At the same time, Livermore, John Jr., Joseph Sr., Ma Murray and their stock managers were all doing the same thing.

They are ready to withdraw all their funds and wait for the final decisive moment.

The trading director quickly bowed and apologized, and immediately ran inside to greet the traders to help Ye Luo operate the stock.

He held too many stocks and the amount was huge, and it would take a certain amount of time to complete the transaction.

Ye Luo sat on the sofa, lit a cigarette, and took out a stock list that had been written long ago from his briefcase, with the prices of nearly 100 high-priced stocks densely written on it.

Those are the targets they're shorting in October and November.

Even at the forefront of the economic crisis, rashly targeting the entire U.S. stock market will surely trigger a violent counterattack. The safest way to short-sell is to target top high-priced stocks like U.S. Steel.

Not surprisingly, today's stock prices will continue to fall, allowing those speculators to sense the so-called "bottoming out" opportunity.

When do you lose the most when investing in stocks?

That's when you think you've hit the bottom and buy a lot of stocks like crazy to buy the bottom.

Often at that time, two situations occur.

First, the stock price will never stop falling, and what you think is the bottom is actually just the beginning of a nightmare.

Second, the stock really started to "bottom out", but that was just a flash in the pan. When it reached a head data that did not seem to be a "high", it suddenly plummeted, and then the first situation began.

The first situation is an ordinary leek-cutting game. Smart speculators can stop their losses in time and avoid setting up tents on the streets of New York and becoming homeless.

The second situation is terrible, which means that those traders can no longer control the stock market. That is a sign of a great economic collapse!

Once caught in the second situation, the only choice speculators can make is when to jump off the building.

Obviously, the U.S. stock bubble in 1929 was the second case.

Buying the bottom anytime is a dead end.

After looking at the stock roster for a while, Ye Luo looked at the busy trading department. The time on the wall came to 9:30, and the trading director came back on time.

He held two stacks of information in each hand, one stack was the profit and capital status after selling all the stocks, and the other stack was the emergency telegram sent to Ye Luo from outside.

"The total balance of the margin account is US$89.57 million, which is almost double the profit, which is not bad." Ye Luo flipped through the information and was quite satisfied.

After returning from the Republic of China, he and Huixin had about 45 million U.S. dollars in their accounts. They also brought 26 million U.S. dollars in equity from the Republic of China. Later, they separated from Hongxing United Group. Ye Luo operated these stocks by himself, and relied on Ha Terry's stock swallowed up all the 26 million.

After going back and forth, the total funds have reached 89.57 million U.S. dollars. Adding in the 58.7 million U.S. dollars received from today's loan, the total is 148.27 million U.S. dollars.

On the other side, an urgent telegram came from Livermore and others, who reported the situation on their side to Yelo.

In total, they hold about $100 million.

"In this way, the total funds are almost 250 million. Calculated with the highest 20 times leverage, the funds that can be leveraged are 5 billion. The volume of the US stock market at its peak was 50 billion US dollars. It has declined slightly now, but 40 billion is All right."

The corners of Ye Luo's mouth turned up slightly.

5 billion US dollars, which is almost equal to 12.5% ​​of the total market value of US stocks!

In the original history, the principal held by Livermore was US$37.5 million. With 20 times leverage, it was rolled into 750 million. He used this 750 million to make a total profit of 930 million in October!

It created the highest peak record in the history of U.S. stocks and even financial transactions.

Now, Ye Luo has 6.6 times his principal, and even he can hardly imagine how much benefit he can get.

After counting these data, Ye Luo sat on the sofa without saying anything, just quietly watching the changes in stock prices and speculating on possible changes.

Franklin was waiting extremely anxiously in the office, and several others were also eagerly waiting for Ye Luo to issue the final combat order.

However, until the end of the morning, Ye Luo still did not take any action.

Liu Xuenong, who was on the second floor of the trading hall, felt like he was about to explode!

The data on the big blackboard was refreshed again and again, and the prices of the Dow Jones Index and many stocks were still falling, as if they would never end.

Where is the opportunity to buy the dip?

Some people have begun to lose their composure and invest money in the stock market to buy stocks, and then regret it as soon as they buy them.

Because not long after, the stocks he bought fell by a few dollars, causing him to lose money again.

Liu Xuenong kept convincing himself not to be impulsive. In order to avoid the situation where he couldn't control himself, he left the New York Stock Exchange early and went to an outside restaurant for lunch.

Returning to the New York Stock Exchange at 2 p.m., Liu Xuenong was shocked to find that every trading window was crowded with people. When he inquired about it, he learned that the stock market was starting to pick up!

The Dow Jones stopped at around 310 and then started to rise slowly!

This was followed by price increases for many stocks.

General Motors, which took the lead, suddenly rose by $3, which made people very upset.

"Damn!" Liu Xuenong didn't care that the loud voice might cause conflicts with the white people. He ran to the trading window on the second floor like crazy and patted the glass to signal the traders to come and serve him.

His capital is not large enough to be a VIP, but he doesn't have to compete with retail investors on the first floor.

"Sir, is there anything I can help you with?" the female trader's voice was sweet.

Liu Xuenong took out the bill and shouted in a hysterical tone: "Everyone, put all the money in my account into the stock market, buy these high-priced stocks, don't leave out any of them!"

He repeated this over and over again, fearing that the female trader would make a mistake.

Such roars occur frequently on the trading floor.

Everyone realizes that the opportunity to buy U.S. stocks at the bottom is here!

It's time for their comeback! (End of chapter)