Chapter 254: Terrifying Tuesday

Closing positions doesn't require the same caution as opening them; there's no need to split into multiple batches—just directly take over the sell orders in the exchange.

Now inside the exchange, there are basically only sell orders; buy orders are hardly any.

Chen Mo's buy orders are practically rare items.

In just a few minutes, over ten thousand contracts were traded.

"Boss, the contracts have been traded, average price 220 points."

Pite's voice was filled with uncontainable excitement and agitation.

At an average price of 220 points, Chen Mo's large buy order caused a slight rebound in the market amid the stock crash, fortunately with little impact.

The initial opening cost was 315 points.

Having closed only thirty percent of his position, Chen Mo had already secured a profit in US dollars.

Although he didn't close at the lowest point, Chen Mo had already broken even and made a substantial profit.

Moreover, this is only thirty percent of his position.

There's still seventy percent of the position in hand! That's where the big profit lies.

After the trade, although they didn't need to continue operating today, Chen Mo and the others still waited until the exchange closed.

The final closing result was as Chen Mo expected: the S&P 500 index, after a small rebound, fell back to 220 points, slightly lower than the 224 points he remembered from his previous life, but the difference wasn't large.

"Alright, let's head back. Henry, Pite, you must rest well tonight; tomorrow is the real showdown."

"Understood, Boss!" Henry and Pite replied, lowering their heads.

Today's stock market plunge is destined to cause many long positions to blow up.

Unless they can top up their margin tonight, tomorrow they will be forcibly liquidated.

Today's 'Black Monday' is merely the day the stock crash occurred; tomorrow's 'Terrifying Tuesday' poses even greater danger.

If the exchange and institutions handle it poorly, tomorrow could very well cause the entire US stock system to collapse.

One night passed quickly.

A new day began.

Chen Mo looked at the dark circles under Ahua and Jimi's eyes and asked, "What's up with you two?"

Ahua gave a hehe laugh: "Yesterday I was too excited, I couldn't sleep at night."

"And Jimi, are you that excited too?"

Jimi rolled his eyes at Ahua: "Although I'm also excited, I can fall asleep."

But Ahua pulled me and wouldn't let me sleep, making me analyze for him all night; Mo Ge, how much can you make this time?

"Damn, you loser!" Chen Mo laughed, "I'm not giving you my money, why are you so excited?"

"Even though Mo Ge doesn't give me any, just watching makes me happy!" Ahua exclaimed excitedly.

Gang Sheng and Qiu Di couldn't help but ask: "Mo Ge, just how much can you make this time?"

Chen Mo thought for a moment; if nothing unexpected happens, the result will be out this morning, and he can explain it to them clearly.

"The harder the US stock market falls, the more we profit. Yesterday we closed thirty percent of our position, already recouped the cost and made over two hundred million US dollars."

"If today goes without a hitch, we could still make another ten or so billion!"

"US dollars?"

"Of course!"

"That much?" Gang Sheng and Qiu Di couldn't help exclaiming.

"Is that a lot? I think it's still not enough. With this amount of money, among the rich of Gangdao, you wouldn't even make the top ten."

After Chen Mo said that, Gang Sheng and Qiu Di's eyes were full of little stars.

Their man is excellent! Ambitious! Handsome!

Upon arriving at the Merrill Lynch office building, Chen Mo clearly felt the atmosphere inside was more solemn than before.

This morning, several smaller brokerages have already announced bankruptcy.

Merrill Lynch is also facing pressure.

Among their clients, many long positions have already blown up.

If, before the market opens, they still cannot top up their margin, according to regulations, Merrill Lynch can forcibly liquidate their positions.

But that would mean a large amount of sell orders entering the market, further exacerbating yesterday's stock crash.

Unless Merrill Lynch itself takes over the orders.

However, that would require a large amount of funds, and it might not even be effective.

Because other brokerages are also facing the same dilemma.

If other institutions simply let the sell orders flood the market, Merrill Lynch would be unable to cope alone.

Moreover, if they choose to take over the orders themselves and succeed in rescuing the market, they could potentially make a huge profit.

But the greater possibility is that they would end up worse off than those brokerages that previously declared bankruptcy.

Chen Mo didn't bother to inquire how Merrill Lynch planned to act; he led his people straight to his own trading room.

As for how Merrill Lynch would decide, Chen Mo already knew: as long as nothing unexpected happens, they will choose to take over the orders and rescue the market.

At 9:30, the exchange opened.

Unlike yesterday, today's S&P 500 opened lower, but its trend moved upward against the trend.

"Oh no, Mo Ge, it's going up! What should we do?" Jimi exclaimed in shock.

Now, for every point the S&P 500 rises, Chen Mo stands to lose over thirteen million US dollars.

Chen Mo stared at the Bloomberg terminal, brows furrowed; sure enough, someone had chosen to enter the market to rescue it.

However, Chen Mo was not panicked.

At present, investors' emotions are still in panic; this amount of buying orders is definitely insufficient.

Let's take a look, this has just begun!

Soon, the S&P 500 index rose to 230 points.

After another half hour, it rose to 240 points, but the upward momentum was gradually slowing.

A few minutes later, the upward momentum stopped.

"Great, it's not rising anymore, Mo Ge, it's not rising!" Jimi and Ahua both shouted in delight.

Chen Mo also secretly let out a sigh of relief in his heart.

Just a few minutes after the upward momentum stopped, the S&P 500 index began to fall, and the speed of the decline was even faster than during the previous rise!

Buy orders are empty again!

When the index fell below yesterday's closing price, Jimi, Ahua, and the others could not help but start cheering.

In their view, today might be just like yesterday, a straight decline to the bottom.

But Chen Mo did not think so.

According to his past life's memory, once the afternoon Federal Reserve, exchanges, and major investment banks conduct a joint rescue, it will definitely rebound.

The best time to close positions is this morning.

But the decline is not enough yet.

In his past life memory, the S&P 500 index's low point today would be 202 points.

But because of Chen Mo's participation, the closing prices and declines of the past few days differ from the data in his memory.

Chen Mo now is also unsure what today's low point will be.

When the S&P 500 index fell to 205 points, Chen Mo ordered: "Pite, Hengli, start making calls."

Prepare to close positions.

"Yes, Boss!"

Jimi couldn't help advising: "Mo Ge, we shouldn't wait longer? It's only morning, the market close is still far off!"

Chen Mo shook his head: "No more waiting, better to secure the gains."

"Pite, Hengli, don't close all positions at once; just control the price around 205 points."

"Understood, Boss!"

Chen Mo's seventy percent position, over twenty thousand buy orders, if all dumped onto the market at once, would cause the price to rebound significantly, earning him much less money.

However, the market currently urgently needs buy orders; Chen Mo's seventy percent position, if merely split into a dozen or so trades, would not cause any major disturbance in the market.

After more than half an hour, the transaction was completed.

"BOSS, all positions have been closed, average price 205 points."

"Great! Well done!" Chen Mo exclaimed excitedly.

With the dollars secured, Chen Mo could hardly contain his excitement.