"100's of millions made in the rally?
100's of millions lost, in the same rally. Or did they fire up the printing presses?"
in the case of futures, there is the exact same amount of money won vs. lost. that is a dynamic of the zero sum nature of futures.
however, in the case of EQUITIES, there can be far more money lost than won, or vice versa.
that's the nature of a NON-zero sum system and of the stock market since inception, or for that matter - many capital markets - from art dealing to real estate