Chapter 168 Exploration (3)

It’s just that Andrew’s bottom-hunting behavior was still a step slow. Before he and his trading team made a move, the sell orders in the market had been matched by the limit orders set by the bulls in advance, and the copper price stopped firmly at $1940. superior.

   "It seems that there are multiple people supporting the bottom!" Andrew said with some sighs. He then waved his hand to tell the traders to stop making phone calls, staring at the K-line chart on the computer screen, silently lit a cigarette, and thought hard amidst the smoke.

The current situation is that the bulls are attacking violently, and as a result, they are repelled by the short sellers who evaded earlier when they hit the highest level in the day. Because the number of hands of the main bulls is too large, they have not been able to change their hands in time from the follow-up buying orders, resulting in The current capital situation is not enough to support the continued upward attack, and it will not be able to get rid of the situation for a while. The short sellers have spotted this opportunity and suppressed the copper price unscrupulously.

In the previous wave of contact wars, the positions of the main short sellers were not exhausted, and they even endured losses when the market reversed, while gradually closing their short positions in the market. The reason for the skyrocketing.

  The offense and defense of both sides is to compete on a spring. If the long and short sides are evenly matched, the market will swing from side to side, and eventually maintain a relative balance. However, if one side suddenly increases its strength, the other may not be able to resist. There are extremely many factors that affect the strength of both parties. In addition to fundamental factors, there is also a daily comparison of forces entering and leaving the market.

At this time, the forces on both sides of the market are in a situation of ebb and flow. The main short sellers have cleared their positions during the rising process and violently attack the long sellers with slightly shrunk profits and margins. There is no time to mobilize newly opened funds, so they can only watch the current copper futures price drop. What they can expect now is that the main short sellers will suppress to a certain price and accumulate huge positions, making their accounts insufficient funds In order to leverage the market again, the bulls may launch another wave of counterattack at this time, and finally the two sides will reach a balance at a certain price.

   What's worse is that the foolish followers in the market immediately throw away their long positions as soon as they see the market reverse, and start to follow the trend and sell short. This is what the main long and short sellers hate the most. Following the trend is purely to make profits in the market, and has no ability or willingness to control the trend of the entire market.

A large order of 1,000 lots can certainly change the market trend in a short period of time, but 100 follow-up orders of 10 lots can offset this effect, especially when the market reverses obviously, these follow-up orders occupy positions The advantage of being flexible, you can turn around and reverse in the first time.

If there is no support from another bull at the position of 1940, I am afraid that the price of copper futures has already dropped to the range of 1930 US dollars. Future copper prices fell further.

   "The momentum of this bull is not very good!" Andrew observed for a while, and then came to a conclusion. While he was talking to himself, the price of copper futures has dropped to $1939, and according to the preliminary judgment of the market, the current price will still fall.

  However, during the period when the price stayed at $1940, some follow-up shorts have begun to close their positions. The follow-up market can't figure out where the psychological expectations of the main long-short players are. Their best strategy is to close when they see a good deal. This relieved the pressure on the bulls of the pallet to some extent.

  The main bulls obviously expected this to happen. After the copper futures price was slightly supported, they immediately increased their pressure on the price, causing the copper futures price to fall further.

   "Should we make a move?" Just as Andrew's face was changing, a trader put forward his opinion. Andrew looked up at the traders who had been waiting for orders, their faces were full of eager expressions. Andrew thought for a while, and finally shook his head, which greatly disappointed the traders.

  Andrew really wants to ask Zhong Shi for his opinion, but when he considers the time difference between London and the United States, he can only give up this idea. If he were to face this situation by himself, although he could make a decision, he would have lost $50,000 in an instant after opening a position of 1,000 lots, which made him feel a little frightened at this time.

  50,000 US dollars, his authority is only 10 million US dollars, which means that as long as there are 200 such losses, all will be lost. In fact, it doesn’t take 200 times. You must know that there is no limit to the price fluctuation of the copper futures market, which means that it is possible for the copper futures market to rise or fall by 200 US dollars a day. If that is the case, if Andrew's 1,000-hand position cannot be cleared in time, he will lose 5 million US dollars, and his position may be liquidated by then.

  So he decided to stand still, continue to observe the market trend, and at the same time continue to buy those expiring contracts at the end of April and early May that are approaching the delivery period.

  …

  In the United States, it was already late at night, but the traders operating the London copper market still did not rest. They were nervously staring at the data on the computer screen, and at the same time kept communicating with their brokers.

   "Mr. Stanley, are you going to raise the price of copper now?" The quoter in charge of the communication between traders and managers pushed in and asked Druckenmiller, who was frowning and meditating at his desk.

At this time, there are several display screens placed in front of Druckenmiller's desk, timely displaying data on electronic disks, copper prices in several markets on and off the market, and at the same time, there are three phones on the desk that are always on. I have been discussing the latest market situation with the broker in London.

   "Has the main force appeared?" Druckenmiller raised his head, his red eyes were bloodshot. During this period of time, he was under tremendous pressure, especially when he failed to bet on the Japanese yen and lost a huge loss of 650 million US dollars. After the net worth was announced in March, several clients had expressed their intention to withdraw their funds. It was Soros who came forward to save them. down.

This time he aimed at the London copper market. On the one hand, it was out of the need for performance, and on the other hand, he wanted to make a lot of money in the shortest possible time, so that the latest net worth can be improved, so as to attract more investors. investor.

  Due to the rapid growth of economic data in the first quarter of the United States, they realized that the demand for non-ferrous metals will increase significantly in the coming period. Originally, economic growth was a great benefit to the U.S. stock market, but the Federal Reserve’s two interest rate hikes within two months have severely hit the enthusiasm of the stock market, making the market full of uncertainties, so they focused their investment on the non-ferrous metal market.

It was only after they entered this market that they discovered that the mechanism and driving factors of the entire market were not as simple as they imagined, especially after the release of economic data in the United States, the data of the copper futures market did not improve much. Later, they realized that the water in the copper futures market was extremely turbid, and among them were characters like Hamanaka Yasuo who blatantly manipulated the market.

  The newly arrived Quantum Fund accumulated a large number of positions in the March contracts of May, June, and July, which made their capital turnover difficult for a while. Although the Quantum Fund now has a capital scale of tens of billions of dollars, it is impossible for all of this money to be mobilized in the mature copper market. As the saying goes, investments must be diversified to share risks. There are positions, and the funds allocated to the non-ferrous metal market are only more than one billion US dollars.

At this time, the main force he was talking about was Binzhong Tainan. They were the funds that raised the copper futures before. The $1,940 pallet entrustment was also a safety measure they took to prevent the copper futures price from falling suddenly, but now this line of defense is blocked. Breakdown, they have to react.

   "There is no sign yet that there are other main bulls entering the market. It seems that we are the only main bulls in the market." The quoter paused, and then said the conclusions drawn by the traders.

   "Then let's not enter the arena, continue to wait, I don't believe that they will not enter the arena." Druckenmiller said firmly. During this period of time, through information from brokers, he has learned that several brokerage companies commonly used by Sumitomo Trading Co., Ltd. have gradually cleared their positions, and the time to increase copper futures is coming soon.

Druckenmiller dared to let the price of copper fall, because he had already accumulated a large number of positions at a low level. Even if copper futures fell today, it did not exceed the average position of their opening positions. That's why he dared to blatantly watch the price of copper fall.

  …

In London, the copper price has fallen to 1932 US dollars at this time, and the downward trend has not stopped. The first wave of follow-up trading has started the second short-selling. Gradually reduce positions.

It's no wonder that while following the trend to make money, the main force is also calculating these follow-ups. On the one hand, they are suppressing the price of copper futures. Mainly.

"Sell 2,000 lots at $1930, place an order at the market price, and see how the market responds, and withdraw all orders at $1940." Hamanaka Tainan, who has been paying close attention to the market, ordered that he had always wanted to see the previous order. The reaction of the main bulls, who knows that the main force has not responded after the copper price fell by 10 dollars, he suddenly thought of a possibility, which made him change his original mind and asked the traders who had been waiting for a long time to enter the market.

In Binzhong Tainan's mind, the possibility that makes him change his mind is that the main force of bulls may choose to hold positions for a long time, so in his future plan to raise copper prices, these positions seem to be riding a ride, which is easy Earn huge profits for nothing.

  This is what he doesn't want to see. What he has to do now is to let these long positions voluntarily leave the market.

In the end, the copper futures price on this day closed at US$1937, an increase of US$17.50 all day, and the number of trading lots reached 50,000, an increase of 7888 lots from the previous day. time. Although the market claims to be 24 hours, brokers also need to rest.

  But until the closing time, Hamanaka was not sure whether the bulls had left the market.

   Originally, I wanted to post more chapters in the past few days during the Chinese New Year, so I could ask for monthly tickets, recommendation tickets, etc., but once I go home, it is difficult to check the information, so I can only update it first. I'm really sorry for everyone this month, I'll make it up next month, hey... Everyone, please vote for recommendation tickets or something, I'm really embarrassed to ask for monthly tickets

  

  

  (end of this chapter)