Chapter 179 Retaliatory Rise

Zhong Shi is 80% sure that he can determine the market trend of the next day. He already has a vague understanding of the long strategy, so after finishing the operation, he asked Andrew to add another 2,000 long positions at the current price. Also added a long position of 1000 lots.

As he expected, on Monday, May 23, the price of copper futures opened at $2,210 and fell again shortly after the opening. They also took it for granted that they could close their positions at a low level, for which they raised a lot of money over the weekend.

The bears can raise funds, and the bulls can also raise funds. After the current copper price fell to 2190 US dollars, it encountered a strong resistance from the bulls. The bears have been fighting here for a long time, but there is still no way to break through this bottom line. As time passed, the bears gradually began to change their minds, and they also realized that the weak rise of the bulls in the previous trading day was a strategy to attract them not to leave the market.

As soon as the bulls realized that the shorts were planning to leave the market, they immediately began to rapidly increase the price of copper futures, and raised the price of copper futures to above $2,200 in a very short period of time, and then several large buy orders were thrown away one after another. It came out and raised the price of copper futures to $2,240 in a very short period of time.

  Seeing that the price of copper futures skyrocketed, following the trend quickly changed the attitude of watching, and couldn't wait to enter the market to build long positions. For a while, the bulls became powerful and quickly smashed the sporadic lines of defense set up by the short sellers.

  The price of copper futures started from 2240 US dollars, all the way directly broke through several small integers such as 2250, 2260, 2270, and the whole day's rise has been unstoppable. At this time, the bears have no way to prevent the rise of the entire market, and their most practical goal is to prevent the price of copper futures from rising to $2,300.

   "Zhong Sheng, we've made a fortune!" When Andrew's call reached the United States, Zhong Shi was resting. He believed that the market of this day should be moving in the direction he predicted. Sure enough, when the news of Andrew's report came, he just hummed lightly.

Seeing that Zhong Shi was not so excited, Andrew was a little depressed, but he quickly adjusted his mood and asked Zhong Shi flatteringly: "Now our 2,000-lot long position has earned more than 3 million US dollars, and the floating profit is still there. Further expansion, do you want to continue to hold it?"

   Zhong Shi, who woke Andrew up, was very upset, but it was not good to discourage Andrew's enthusiasm at this time, so he could only frown and said in an unhappy way: "You have earned so much, are you still greedy?"

  In Zhong Shi’s view, with a principal of more than 10 million U.S. dollars, he made nearly 30% of the profit in just one day. This achievement is already shocking.

  After hearing what Zhong Shi said, Andrew understood that he was being asked to close his position. Although he was very reluctant, Andrew still firmly carried out Zhong Shi's order and began to close his position in the market.

  …

"Haminaka-san, there is a large amount of flat positions in the market, and the number of lots is around 1,000. Should we suspend the increase?" In the London department of Sumitomo Corporation, traders were watching the changes in the market closely. After the warehouse receipt appeared, they were keenly aware of it.

"1000 lots? That's not a small number!" Binzhong Tainan frowned, and said with some displeasure, "I hate this kind of deal that I just take as soon as I see it. Almost every deal is cut off from me. profit, Baga!"

After he cursed bitterly, he immediately ordered: "Eat them all. Our goal is not these small funds that follow suit, but those short options. Today's goal is to let them see how good we are, and let them Know the bottom line we give them!"

Hamanaka Yasuo and his Sumitomo Corporation were the main force driving the copper futures market in the past two days. Originally, according to their plan, during this period of time they slowly endured the pressure of short sellers and took the opportunity to open more opponents. Waiting for a certain stage to suddenly pull up copper futures, making option shorts have to leave the market at a higher price.

Before that, between the first Wednesday and the third Wednesday in May, they and another bull in the market tacitly pulled up the copper futures, which made the option shorts suffer a big loss quietly, but they still Not satisfied. Up to now, only some of the option shorts have chosen to leave the market, and most of the option shorts and the original main shorts still have the illusion that they can suppress the price of copper futures to a low level.

However, the huge long liquidation order that appeared out of thin air on the last trading day almost exposed their plan. After paying a part of the price, they reluctantly kept the option short position in the market. For safety reasons, they had to crazily pull up copper futures today. price.

   "Okay!" Hamanaka Yasuo's order was immediately carried out by the traders.

  Hamaka Yasuo, who was holding a cigar, hid his face in the curling smoke, which gradually became blurred. At this time, he was very angry in his heart, so yesterday's long liquidation order exposed his trading plan, which forced his plan to be carried out in advance. On the bullish forces, I completely forgot that this bullish forces have played a lot in the process of pulling up copper futures.

What he didn't know was that the bullish forces that appeared yesterday were other funds, not Quantum Fund, which had been working with him to raise the price of copper futures. Entering the market wantonly made Zhong Shi and his funds take advantage of a small loophole.

More than 1,000 liquidation orders slowed down the rising copper futures prices, but then the main bulls entered the market and took over the long liquidation orders with a strong attitude. Seeing that at the position of $2270, the main bulls are still taking orders, which further strengthens their confidence in going long.

The price of copper futures slowed down twice at 2270, 2280, etc., but the liquidation order was still taken by the main bulls. The price has reached the position of 2,300 US dollars. For a while, the market was turbulent, and many investors shouted in their hearts , I hope that the main bulls can make persistent efforts to raise the price to $2,300.

However, starting at $2,290, short sellers began to continuously open new positions, which strongly suppressed the rising momentum of copper futures prices. , The follower plate felt the pressure from above, and began to close out the previously established long positions in a small amount, which made the bulls add a part of the pressure out of thin air.

However, Tainan Binzhong is not easy to deal with. He took the long position with a tougher attitude, and opened more long positions. At one time, the price of copper futures was infinitely approaching 2,300 US dollars. Under the resistance, the price of copper futures remained at 2298 US dollars.

   The time is a bit rushed, there are only 2000 words today, please read first~

  

  

  (end of this chapter)