You are absolutely right, fear is driving the market and some are making a tidy profit. Stocks had been hit due to the ban on short selling and some predict a worsening situation post ban, but maybe they are just the ones who are making a profit out of all this. We will all need to hold on to our hats for a while by the looks of it.
<em>edited by Di@DXB on 18/08/2011</em>
I've been following the current market turmoil in the papers. I'm wondering how they can swing so wildly - there's some bad news and the markets go down, next day some good and they go up. If we were to live our lives like this, constantly reacting to short term news, we'd be all over the place.
I know that there are underlying reasons for the fears of another recession with very high debt levels but it seems to me the markets swinging up and down are only making things worse. A lot seems to boil down to confidence levels of investors, shoppers etc.
I can't help feel that some people must be making money out of these market swings - buying up when stock is down, then selling it next day when it goes up but can it not be controlled? Pensioners who invested in funds for their retirement have lost so much money. We need a steady hand at this time and the kind of spirit that got people through world wars.
What do you all think?
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