the next day.

Due to the three consecutive daily limit of red bean, according to the rules of the exchange, all positions in the red bean 9602 contract were forced to liquidate.

Rules for forced liquidation.

When the short position is at the limit-up price for three consecutive times, it can be closed at the limit-up price.

If there is no transaction on the day, as long as there is a closing buy order on the third daily limit board, the exchange is responsible for finding the most profitable long positions and forcibly settle and liquidate the position according to the daily limit price.

The same is true for long liquidation.

This is a protective measure.

One is to protect the relevant futures companies from losing too much, and the other is to protect the failed party from dying too badly.

Because according to the trading rules, the funds of the customer's liabilities for over-positioning need to be paid by the futures company temporarily.

Subsequent liabilities to customers belong to the futures company.

In the forced liquidation of administrative intervention by the exchange, the open interest in the red bean 9602 contract dropped sharply.

But it also means it's time for the bulls to reap the fruits of their victory.

Closed in the afternoon.

The four main forces of the bulls gathered together.

In addition to celebrating this big victory, we are also discussing the next steps.

Forced liquidation does not mean that the position will be liquidated. With the current trend of red beans, there is still a lot of room for future growth.

As long as the operation is done properly, it is not a problem to pull the price to 67,000.

Now the bears in the market are all in turmoil.

Whether it is a spot merchant or a retail investor, it is like a young soldier who has been defeated.

Even the three major short-sellers have been killed, and these short-sellers will inevitably become startled.

In this case, as long as there is a slight change in the market, the person who dares to short again can be killed.

None of Wei Zexi's group was good at it.

How could such an opportunity to take advantage of the victory be missed.

"We will keep the price around 4,500 for a while, and then slowly clean up after new shorts come in."

"Now, the short positions in it are estimated to be dead, and it is estimated that they will have to be raised for a few days."

"Don't worry, the market will never be short of fresh blood. After rising so much, those who should be short will still be short."

Suddenly, Wei Zexi suggested.

"How about we dig another hole, first throw a wave of the spot in our hands, suppress the market, and then wash the retail investors inside?"

Futures are bilateral transactions, as long as there is enough capital, it is possible to kill the shorts and kill the longs.

This method that Wei Zexi said can be said to be a very good method.

As long as you use the spot in your hand to hit a wave of the market, you can smash the price down again.

Now the bulls inside are in full swing.

As long as you smash it down, you can smash to death a series of people who follow the trend.

With the joint efforts of several major forces, those stragglers would be easy to destroy.

With the current control of the spot market by the four joint ventures, if you want to hit the market, you only need to sell tens of thousands of tons of spot at a low price.

It can disperse the price shock of the spot market.

Coupled with their positions in the futures market, these guys can completely control the ups and downs of red bean prices.

The spot is in hand, and there are a lot of positions in futures.

That's not to kill longs if you want to kill longs, and kill shorts if you want to kill shorts.

After killing shorts, kill longs, and after cutting opponents, cut teammates.

If you want to go short, you just need to hit the market with the spot, open a few more positions on the shorts, and then close some of the longs in your hand, you can kill the longs.

When the bulls are almost gone, you can continue to collect the spot and close the short to go long.

Under the lock-up tactics of Zhao Jiangchuan, it was like a new world of making money for the other three.

With the funds in the hands of a few people, you can do whatever you want in the market.

"Xiao Wei is right. As long as the four brothers join forces, the entire capital market will not be dominated by the four of us."

"Haha..., Lao Tang is right, brothers work together to cut gold, this future world must be our world."

The huge success in Hongxiaodou made Wei Zexi, Ye Tan and Tang Wannian in high spirits.

It's just that they didn't notice, and Zhao Jiangchuan's eyes were somewhat disapproving.

For this guy, the country is not the soil for capital growth at all.

If they dare to keep playing like this, they will be killed sooner or later.

No matter how powerful the means, no matter how huge the funds are.

If someone wants to kill them, it's not a matter of minutes.

It's too fat, but it's a pig.

Pigs can be slaughtered at any time.

It only takes three or five characters to turn them into ashes.

However, Zhao Jiangchuan didn't say anything, these guys are in the mood, there is no need to spoil their interest.

"The first time our four brothers united, we won the victory. Why don't we take a group photo to commemorate it? It will be more interesting to look back on it in the future."

"Okay, what Lao Tang said makes sense. When we have the wind and the rain in the future, we will look back at today and see what the scenery is like."

"..."

At Tang Wannian's suggestion, Wei Zexi really went to get a camera.

This made Zhao Jiangchuan feel extremely strange.

He really did not expect that the major heroes of the domestic market in the future would gather together on this day.

I didn't expect that one day I would come to the same line with these guys.

It's just that everyone is in high spirits now, and Zhao Jiangchuan really can't speak up to disrupt the situation.

He could feel that at this moment, the words of this group of people came from the bottom of their hearts.

The smile on Ye Tan's face, Tang Wannian's narrowed eyes, Wei Zexi's undisguised enthusiasm.

No intrigue, no conspiracy.

Some are just friendships that have been fought together, and some are only the most sincere sincerity.

Kind of ridiculous.

But Zhao Jiangchuan couldn't help but a smile appeared on his face.

This feeling is actually quite good.

"Miss Ouyang, can you take a picture for us?"

"OK!"

Ouyang Lan took the camera that Wei Zexi handed over and began to play the role of the photographer.

Polaroid, fool-like operation.

Zhao Jiangchuan and Wei Zexi are young and in the middle. The older Tang Wannian and Ye Tan are on one side.

When the four of them took their poses, Ouyang Lan shouted.

"Remember to call me eggplant later."

The little secretary's remarks amused everyone else.

But still nodded in agreement.

"eggplant."

"eggplant!"

"Crack."

Ouyang Lan pressed the shutter in her hand.

In the flash, time seems to be frozen into the picture.

After four consecutive chapters were filmed, Wei Zexi started booing.

"Jiang Chuan, don't you want to share with Miss Ouyang?"

"Yeah, you two have one too."

Zhao Jiangchuan didn't even pretend, he domineeringly hugged Ouyang Lan into his arms.

Ouyang Lan was so shy, she was very embarrassed to be teased by so many people in public.

But after being embraced by Zhao Jiangchuan, she blushed like the quietest cat.

That broad embrace made her infinitely nostalgic.

"Crack."

After the flashing lights flashed, the group photo of the two was saved.

"One more, this time to kiss."

"Kiss, kiss..."

"Ha ha…"

Amid the booing of the crowd, Zhao Jiangchuan was unequivocal, hugging Ouyang Lan, who wanted to run, and kissing him.

"Crack."

"Ha ha…."

The liquidation of the exchange is a harvest day for the bulls.

But for the bears, a strong liquidation means that the bulls celebrate the New Year ahead of schedule, and they are slaughtered as pig-like leeks.

Including shorts and hedging spot traders.

Zhou Xiaobing is from Hubei.

In the early years, he was a second-order dealer in the acquisition of grains.

Driving a tricycle in the countryside, collecting some sundries such as peanuts, corn, sesame, pepper, soybeans.

With his diligence and skills, Zhou Xiaobing's business is booming.

In addition, people are bold, dare to play with fake scales, and drop the package.

Over the years, Zhou Xiaobing's business has grown bigger and bigger.

Big business is not as important as going to the countryside to fool those peasants, but to pay attention to a reputation.

So later Zhou Xiaobing turned his evil spirits and returned to the righteous, and Zhenger Bajing opened a farming and miscellaneous purchase station.

Traveling around when he was young, Zhou Xiaobing made many friends in business. With this network, Zhou Xiaobing's agricultural and sundry purchasing station opened very smoothly.

The amount of food is relatively large. It looks like a few cents per catty, but it can't hold up to tens of thousands of tons of goods.

After long-term exploration, Zhou Xiaobing cut down the varieties of corn and peanuts that took up a lot of money.

Specialized in the red bean business.

Only single-mindedness can build a reputation.

Sure enough, Zhou Xiaobing's approach was correct.

A few years later, Zhou Xiaobing became the largest red bean trader in Central China.

But business is a mouthful of honey and a mouthful of shit.

No one knows whether the price will go up or down.

Receiving the goods and pressing the goods, the price rises naturally to make money, but when the market is not good, the one who is not careful will have to put the old money in.

Occasionally, Zhou Xiaobing heard something called futures, which can avoid losses caused by price declines.

After having an in-depth understanding of futures hedging, Zhou Xiaobing tried it.

Once you try it, that's what happened.

As long as the price reaches a profit, the profit can be locked in through futures.

This is simply specially prepared for spot traders.

When the price falls, you can make money on futures.

When the price rises, the spot in hand can be delivered, or it can be sold at a high price to hedge the losses on the futures.

Either way, it's a solid profit.

With the futures hedging tool, Zhou Xiaobing no longer has the previous concerns.

This year, he received more than 30,000 tons of spot.

It's just that Zhou Xiaobing didn't expect that this year's red bean prices have plummeted.

Since the beginning of the year, it has been falling all the way.

Fortunately, Zhou Xiaobing took a short position on futures early to prevent risks.

So, there's not much to lose.

Even when the price of red beans fell to 2,000, Zhou Xiaobing didn't lose any money.

This made Zhou Xiaobing secretly happy.

The drop in prices has caused many spot traders to suffer huge losses.

After the capital chain is broken, some spot traders have to sell the goods they received at a high price at a low price.

Some even had to close the door in the end because of losing money.

Not every spot merchant understands finance. Few people have heard of new things like futures.

Those who did not hedge their positions only lost money as prices plummeted.

There are few competitors, which is naturally a good thing for a business person.

But Zhou Xiaobing never thought that with complete risk defense measures, he could not avoid bankruptcy in the end.

At the end of November, Zhou Xiaobing opened 10,000 short positions in futures to hedge the spot in his hand.

Everything is the same as before.

But since the last few days of December, the futures market has changed dramatically.

It didn't take long for the wildly rising prices to skyrocket all the way.

But it doesn't matter, futures are rising, and prices in the spot market are rising at the same time.

When the delivery period arrives and the registered warehouse receipts in his hand are delivered according to the rules of the exchange, Zhou Xiaobing can still make money.

However, Zhou Xiaobing's plan fell through.

Around New Year's Day, the price of the futures market suddenly soared continuously.

In just a few trading days, the price of the main futures 9602 has skyrocketed from 3,000 yuan a ton to 4,577 yuan a ton.

up to a fifty percent increase.

In such a violent increase, the position on Zhou Xiaobing's futures went through.

Not only did he lose all of his 35 million deposits, but he also owed nearly 70 million.

In the futures contract, Zhou Xiaobing suffered a huge loss of more than 100 million yuan.

But this was just the beginning of the nightmare.

After the daily limit on the third board, Zhou Xiaobing's positions in futures were all liquidated.

However, on the second day after the position was closed, the red bean 9602 contract was two consecutive limit-downs.

There must be a crash followed by a surge.

Everyone knows this.

But this has nothing to do with Zhou Xiaobing.

In addition to losing the principal of 35 million, he still owes the futures company 70 million.

Because his position has been closed.

What made Zhou Xiaobing even more collapsed was that in the spot market, the price of red beans also plummeted.

In just a few days, the price of red bean has dropped from 4,300 yuan to 2,900 yuan per ton.

Zhou Xiaobing went bankrupt.

In just over a month, he lost his entire fortune.

Not only that, he also owed the futures company 70 million in debt.

The only thing Zhou Xiaobing had left was the 30,000 tons in stock in each warehouse.

But for Zhou Xiaobing, it was meaningless.

Among the 30,000 tons of goods, the current market price is more than 80 million.

One-third of the more than 80 million in stock is on credit.

Even if all the spot is cleared, it is not enough to repay the arrears of the futures company.

"Lingling..."

The cell phone in Zhou Xiaobing's pocket was ringing.

He took out his phone blankly and pressed the call button.

"Hello Mr. Zhou, I'm Mo Congming, the manager of South China Futures Company. Because your account number 1233214 has a short position in the red bean 9602 contract.

"boom…."

Zhou Xiaobing indifferently threw the phone on the ground.

Nokia's mobile phone is of good quality. Even if Zhou Xiaobing threw it to the ground, he could still hear the sound from the phone.

"Please add enough security deposit within 72 hours, according to the terms of the contract you signed... Hey, Mr. Zhou, are you listening? Hello. If you don't make up the security deposit, we will have the right to sue you. Hello. Hello, Mr. Zhou..."

sue me.

Ha ha…

Zhou Xiaobing stood on the 16th floor of the Exchange Building and smiled, then took a few steps to the edge of the balcony.

"Hello... Mr. Zhou, UU Reading www.uukanshu.com Mr. Zhou, are you listening?"

The cold wind blowing upstairs, with a biting chill.

It's just that no matter how biting the chill is, it can't match the coldness in Zhou Xiaobing's heart.

Zhou Xiaobing only had one idea.

He is finished.

All the things he had worked so hard for all his life were over.

The feeling of falling from heaven to the clouds made Zhou Xiaobing full of despair.

Zhou Xiaobing closed his eyes.

Seeing no hope, he jumped down into the vast sky.

"Mr. Zhou...Mr. Zhou..."

On the roof, the Nokia phone was still ringing.

But this world will never have Mr. Zhou again.