Mediterranean hegemon

Livermore suppressed his excitement and issued the order for a "comprehensive attack." The ringing of the opening bell was the starting gun for the general attack.

clang!

The bell is ringing!

throw!

The huge financial bomb was thrown into the sea of ​​​​stocks, causing water jets to reach the sky, and no one was spared!

According to Livermore's instructions, all the traders immediately went to full speed to sell goods, and the phone calls came and went, and the instructions of "Sell, sell, sell!" were everywhere. United Trust had professional seats, special channels and even special phone lines on the exchange. , so the action is the fastest and the efficiency is the highest.

In order to prevent signals from being interfered with or otherwise damaged, United Trust also set up a "Former Enemy Telecommunications Department" in the building closest to the exchange. The best telegraph operators and relevant guards of the United Group were stationed here to receive instructions by radio and prepare for emergencies. At the critical moment, United Trust spent huge sums of money to buy seats and independent spaces and was said to be a fool with too much money. But now, everyone admires the original president's handiwork. He just gave him priority in a few seconds. The original extra cost was paid off.

After reducing its holdings by more than 200 million last weekend, United Bank now still has a position of more than 300 million U.S. dollars, which it must sell as soon as possible.

Today, the market opened lower following the decline of the previous trading day. As soon as the over 300 million selling orders were issued, the drop became even more severe: all investors stared dumbfoundedly at a series of large-scale stocks including General Motors, General Electric, and American Radio. The prices of blue chip stocks fell rapidly.

AT\u0026T closed at $304 on the previous trading day, opened at $299, and fell to $278 10 minutes later;

General Electric Co. closed at $396.25 on the last trading day and opened at $390. It dropped $25 in a flash within 5 minutes;

General Motors closed at $72.75 on the last trading day and opened at $71. It resisted for 6 minutes and announced its surrender after 15 minutes, breaking through $65;

The New York Central Railroad closed at $256.5 on the last trading day and once reached $259 at the opening. Seven minutes later, a large order of 300,000 shares was sold directly, hitting $235 in an instant;

United States Steel Corporation…

Westinghouse Electric Company…

Union Carbide…

Radio Corporation of America...

All large blue-chip stocks fell sharply, and their declines were usually 5-7%, while those small-cap concept stocks fell even more sharply. Without a 10% decline, I was embarrassed to say that I had opened the market today. The index took a sharp turn, and in less than half an hour, the Dow Jones The industrial index fell below the 440-point and 430-point mark, and rushed towards the 420-point mark crazily. 75 minutes later, the 420-point mark fell...

At the 88th minute, the last trader reported that all sell orders had been completed. A total of 320 million U.S. dollars was cleared within one and a half hours. Of course, due to the sharp drop, the recovered funds after deducting relevant expenses were less than 285 million, a full loss of 10%.

At the 96th minute, the Dow Jones fell below 410 points, and the overall stock market fell by more than 7%. Large blue-chip stocks fell by an average of 5-7%, small and medium-sized blue-chip stocks fell by 8-10%, and small concept stocks, bubble stocks, and junk stocks generally fell by 15%. %above.

Neither Contini nor Livermore cared about it at all. Although almost 40 million US dollars were lost here, on the 3.3 billion short position, not only the floating losses of more than 200 million in the previous few days were instantly wiped out, but by the time the Dow Jones broke through 405 points At that time, there was a floating profit of 200 million in the book.

Moreover, the selling in the stock market continued to pour out aggressively. By 11 a.m., the floating profit of United Trust's short position had exceeded 400 million!

When the stock market fell sharply, the outside world did not know that there was neither a network nor a real-time transmission system at this time. All quotations either went to the exchange to check on-site, or relied on manual quotations and then transmitted them back through the telex machine. It is very likely that the traders had just The last price has been written, and the new price has arrived. Lazy traders will send it out first, and cautious traders will send it out after updating. But no matter what, the delay is natural. The common delay is 15 minutes, like today. Due to the rapid decline and huge trading volume, the delay is more than an hour.

Only Contini and others at the command center can know the real-time situation.

At 11:17, the floating profit on the book exceeded 500 million.

"Should we harvest a wave first in the afternoon?" Livermore explained. "Close some of the short positions first, close the price, wait for the suction cup to come up, and then press it down. This is better than simply pressing down all the time. It can fluctuate repeatedly. The increase in turnover rate creates systemic turbulence, prevents the target from being too concentrated, and gives followers some room to think.”

Francisco nodded: "I think it's okay. Let's close it first in the afternoon, and then attack before closing! Other banks will definitely join forces to rescue the market tomorrow. That is a new opportunity, which will continue to consume their margins."

Contini waved his hands nonchalantly: "You two must decide, I am not professional in this matter. I am thinking about how to spread panic." He pointed to the dark crowd of people in the hall, "This is all invited by the Federal Reserve for us. It would be a pity not to make good use of the free promoters who come here. The appearance fee must be worth it.”

"You want?"

"Tell them that everyone in line will be given a cup of coffee, wait slowly, don't be anxious..." Contini smiled slightly, "Just say that noon time is here, please leave 20 minutes for our employees to eat...Then, it's time You know how to do it.”

Francisco nodded: "I understand."

Livermore didn't understand and didn't dare to ask: he was an investor, not a banker, and he couldn't understand Contini's statement and thinking.

"Everyone has worked hard in queuing! In order to express his apology, the president has personally allocated funds to help everyone have a cup of coffee first. Everyone queues up where they are. Our staff will distribute it in sequence immediately. The business hours will be suspended for 20 minutes at noon..."

The crowd was commotion and dissatisfied: "Why is it suspended? Didn't it say it is open 24 hours a day?"

"It's lunch time. Our employees have been busy all morning and haven't had a break. Give them 20 minutes to eat?"

This crowd really has nothing to say.

However, Livermore soon heard an employee whispering in the restaurant: "The governor is still wise, suspending it for 20 minutes. If we don't suspend it for 20 minutes, the cash in the vault will be gone, and the new one hasn't been received yet!"

"Yes, yes, there are too many damn people, the Federal Reserve is a bunch of bastards! I'm obviously on vacation, so this is a good time, not to mention that I can't make it through the holiday, and I have to work overtime!"

Livermore thought to himself: He had clearly prepared 200 million US dollars in cash, and there was still 150 million in cash reserves in the accounts. Why did he say "the cash in the vault is gone?"

"Get out of the way, get out of the way..." With a loud shout, armed guards rushed in, bringing iron boxes one after another. Some employees couldn't help shouting: "Finally here, great, great If you don’t come here, we will see the bottom..."

Shao Qing, he seemed to realize something and covered his mouth in surprise, but it was too late. The crowd of cashiers nearby who were drinking coffee in an orderly manner suddenly became anxious: "No money?"

"No, no, there is money, there is money..."

"Then what did you mean by bottoming out just now?"

"I mean...I mean...I never said that." The employee scurried away in a panic.

The crowd was even more furious: United Bank is almost out of money?

Soon the broadcast sounded: "Dear customers, our employees have finished their meals in advance and are continuing to operate. We have sufficient cash and account reserves. Please do not spread rumors..."

Got it!

Livermore finally understood. Francisco is really a talent, not to mention the president, he simply uses his heart to the extreme. This kind of practice of true and false, false and true is the most likely to arouse people's suspicion, such as pausing for 20 minutes just now, or giving coffee to customers. People who know the inside story think it is normal, but those who don't know or just watch Superficial people think that United Bank cannot survive and are doing everything possible to appease people and delay time, which in turn shows a lot of problems.

Those who withdraw money here, and those who wait in line for a while, do not go back and declare in a big way: United Bank can't stand it anymore, you need to withdraw money quickly... If United Bank is like this, can other banks be immune? This is to set off a wave of runs across the city and form a financial shock wave...

Before he could return to the office, the second psychological weapon detonated, and the staff's voices began to echo in the hall:

"Due to the sharp drop in the stock market in the morning, in order to facilitate everyone to grasp the information in a timely manner, United Bank will broadcast the stock market and provide everyone with timely points... The Dow Jones plunged 52 points in the morning and barely closed above 400 points at noon. The overall decline exceeded 11%. Among them, large blue chip stocks fell 9.46%...

Popular stocks have fallen sharply. Among large blue-chip stocks, Union Bank has fallen the most, exceeding 24%. The Bank reminds investors not to listen to rumors. The Bank's financial health is very healthy... In other countries, General Motors fell 11.4%, and General Electric fell 9.8%. %, US Telegraph and Telephone, 8.94%..."

As a long list of numbers and stock prices were reported, the crowd one after another exclaimed: "Oh my God!"

"I want to withdraw money, withdraw money, I need to make a margin call..." A man suddenly became excited, ran out of the crowd, rushed directly to the counter and shouted, "Do it for me first! Do it for me first!"

"Sir, please calm down!" The ubiquitous guard quickly appeared and stopped him quickly. "Everyone is queuing up, please queue up too..."

"It's too late, it's too late... When I get the money, it will be too late to cover my position. Let me withdraw it first."

This episode caused the counter to be suspended. Just before the guard was about to drag the man out, a trembling old lady suddenly said: "Forget it, I don't trade in stocks, so there is no need to rush to pay a deposit to let him take my place." Come on, I'll line up at the back."

After saying that, she walked towards the place where the men were queuing up without looking back. Although the conflict subsided in a short time, a huge question mark emerged in the minds of countless people: What happened?

ps: Keep asking for monthly tickets, are there any more?