You can certainly make money in these wild swings. It's a bit of a gamble but if you stick to, at the very least, quality spec stocks, they come back to an equilibrium. Remember, most stocks will get hammered with the general momentum of corrections like this, but the good ones always come back to true value.
I have picked up a couple of stocks at close to lows recently but I have certainly taken a more conservative approach in terms of how much exposure I have to the market.
The scare-mongers amongst these threads are usually shorters looking to try and create fear, or those who have sold their whole portfolios and looking to justify their actions. I don't begrudge those who have sold, these can be very scary times. The shorters, well good luck, it's a big hit and miss affair atm as to which way the market moves on a daily basis.
In summary there is definitely money to be made, you just have to ensure that your exposure is limited to amount that you are comfortable with. There is always time to buy quality stocks on the way up.
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